Saxo Bank

Saxo Bank A/S

Type	Private
Industry	Brokerage firm, Banking, Trading, Investment Fintech
Founded	1992 (1992)
Headquarters	Copenhagen, Denmark
Key people	Lone Fønss Schrøder, Chairman (Chairman) Henrik Normann (Vice-Chairman) Kim Fournais (CEO & Founder) Lars Seier Christensen (Founder)
Products	Investment Banking, trading platforms, online trading and investment
Revenue	DKK 3,006.8 Million (2014)
Net income	DKK 381.2 Million (2014)
Number of employees	1,456 (Dec. 2014)
Website	www.saxobank.com

Saxo Bank is a Danish investment bank specializing in online trading and investment. It was founded as a brokerage firm in 1992, under the name Midas Fondsmæglerselskab, by Lars Seier Christensen, Kim Fournais and Marc Hauschildt. The name was changed to Saxo when the company obtained a banking license in 2001. Saxo offers trading through its online platforms in Forex, , CFDs, futures, funds, bonds and futures spreads. The company functions as an online broker with a bank license, without offering traditional banking products. According to Saxo, roughly half of its activities are derived from partnerships with institutional trading partners. More than 100 financial institutions globally service their end clients with Saxo Bank's platforms on White Label basis

Saxo Bank is headquartered in Copenhagen, but also has offices in financial centres such as London, Paris, Zurich, Dubai, Singapore and Tokyo. According to the bank, it has clients in 180 countries and has a daily average turnover of approximately USD 12 billion

Saxo Bank is known for its success in online trading and investment and has received a number of awards. Domestically the bank is also known for its two founders who are often outspoken on Danish politics. Revenue reached DKK 3,006 million in 2014 delivering a net income of DKK 381.2 million.

Saxo Bank has launched several White Label partnerships with banks such as Standard Bank, Old Mutual Wealth, Banco Carregosa and Banco Best.

Saxo Bank is privately held with co-founders Kim Fournais and Lars Seier Christensen holding majority stakes. Global growth equity firm General Atlantic bought a minority stake in June 2005, for which the CEOs received more than $30 million each. This minority stake was later bought by TPG Capital in 2011, valuing the bank at around DKK 9.6 billion. According to the Bank's website, the co-founders Kim Fournais and Lars Seier Christensen each own 25.71% of the Bank’s shares, while TPG Capital owns 29.26% of the shares. The remaining shares are held by minority shareholders including Sinar Mas Group with 9.9% ownership and a number of current and former employees of the Bank.