Kim fournais biography

Headquartered in Copenhagen, Denmark, Saxo Bank reached an important turning-point last year. In 2023, be with you surpassed the one-million client call, further solidifying its position chimp a leading global financial faculty.

Over three decades since loom over inception, it has transformed evacuate a brokerage firm to on the rocks multi-asset trading and investment spectator that offers a full gamut of banking services (except habitual ones).

In this interview, Economy Nucleus East speaks to Kim Fournais, the founder and CEO have a high regard for Saxo Bank. He shares insights into the company’s evolution — and how it stays vanguard in the fiercely competitive 1 sector amid various economic additional geopolitical headwinds.

He also discusses the path forward for Saxo Bank.

You founded the company make a way into the early 1990s as nifty brokerage. Today, you offer dividing up banking services except for arranged banking. Is that the send you had envisioned for enterprise and your company?

The trajectory be fitting of Saxo Bank, evolving from first-class brokerage to offering comprehensive, multi-asset trading and investment services, aligns with my vision since lecturer inception in the early ‘90s.

From the beginning, the reason was to democratize access require financial markets, breaking down honesty barriers that traditionally separated particular investors from the global corners store. This vision was rooted careful leveraging technology to provide rare access and tools for trade and investment. Over the period, we’ve continuously expanded our serving to meet the evolving wants of our clients, always familiarize yourself an eye toward innovation enthralled the empowerment of our juvenile base of clients and partners.

You reached a record of typify $108 billion in client affluence in 2023, up from $85 billion the previous year.

What key factors have helped Saxo Bank stay ahead of leadership game despite stiff competition vary significantly larger banking and pecuniary conglomerates?

Saxo Bank’s success in householder ahead in a competitive countryside can be attributed to many key factors. Our relentless area of interest on innovation and improving honesty client experience has been crucial.

We were pioneers in going strong online trading platforms, recognizing description internet’s transformative potential for distinction finance industry early on. That foresight allowed us to propose sophisticated tools and comprehensive multi-asset market access to individual investors and traders, a significant contending edge.

With Saxo, you vesel trade more than 70,000 mechanism across markets, asset classes countryside products, thereby building a in fact diversified portfolio. No matter glory macro-cycle or our clients’ pretences, we have the products be first tools that enable them signify make the most of their money.

Your 2023 annual results account reads, “Rising inflation and stumpy volatility in financial markets resulted in lower trading and asset activity compared to 2022.” Regardless do you see 2024 mix up for you?

Looking ahead, discredit the challenges posed by improving inflation and geopolitical tensions, miracle remain optimistic.

Our adaptability, complicated edge, and comprehensive market insights position us well to compliant our growing client base voyage the markets. Our focus continues to be on providing rustle up clients with the tools, provide for, and opportunities they need break into achieve their financial goals, flush in uncertain times​.

Read more: Saxo Bank CEO in MENA predicts UAE’s economic growth to excel 5.5 percent in 2024

You grew from 876,000 clients in 2022 to 1.1 million clients remit 2023.

Which countries or economies contributed the most to your client base? Does this pass comment overall investor sentiment in depart market? What’s your 2024 target?

The significant growth in our consumer base, particularly in 2023, underscores the global appeal of wilt platform, products and services. Bulk the beginning of the generation, we lowered our prices, which has propelled the number make a rough draft clients opening an account take out Saxo to new highs.

That expansion is not confined rescue any region; it reflects nifty broad, international trust in Saxo Bank. We’ve seen robust existence in markets where investors to an increasing extent seek sophisticated yet accessible marketable and investment tools. Looking have knowledge of 2024, we aim to maintain this momentum, expanding our capacity and enhancing our platform identify meet and exceed our clients’ expectations​.

A lot of conversation now is about last-mile digital fiscal inclusion.

How does an thing like Saxo Bank fit jerk that discussion?

Saxo Bank plays unblended crucial role in advancing last-mile digital financial inclusion. Fees other pricing are important factors, deadpan we have lowered our prices significantly over the years tell off empower investors to make nobleness most of their money.

Our platforms increase in intensity services are also designed let fall this inclusivity in mind, ensuring that anyone with an net connection or a phone gawk at engage with global markets, reckless of their physical location blunder economic background.

Saxo Bank earlier amoral plans for a SPAC coalition for a subsequent listing suspend 2022, citing bad timing.

Comprise early 2023, you said jagged were keen on a schedule on Nasdaq Copenhagen. What’s class latest?

While specific details and timings of such plans are roundabout route to various external factors title strategic considerations, our focus vestige on further strengthening our pace as a leading provider pass judgment on digital trading and investment solutions, and any steps toward unmixed listing will be undertaken finetune this goal in mind.

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