It appears that Saxo Bank finally realized that the market won’t remain in its hands forever. From being one of the leading Forex firms Saxo became a pretty boring and content regional player over the past few years. Unlike FXCM and Gain who understood well enough that the market is shifting, changing and moving and you “either keep up with the pace or drop out of the race” Saxo realized this fact only recently.
I speculated that it might make sense for Saxo to dispose of its retail assets and stick to its core institutional clients completely; however Saxo had something else in mind. Last month Saxo announced the establishment of its Dubai office as well as several Eastern European offices. A few days ago it also announced the acquisition of Capital Four Management and 51 % of the share capital of Global Evolution to develop its activities in asset management and added ~$2.65B to its asset management division.
Yesterday it announced plans to expand into Saudi Arabia as alternative investment vehicles grow. Saxo Bank expects to invest as much as $50m in the region over the course of three years.
Michael,
Forex Magnates
I speculated that it might make sense for Saxo to dispose of its retail assets and stick to its core institutional clients completely; however Saxo had something else in mind. Last month Saxo announced the establishment of its Dubai office as well as several Eastern European offices. A few days ago it also announced the acquisition of Capital Four Management and 51 % of the share capital of Global Evolution to develop its activities in asset management and added ~$2.65B to its asset management division.
Yesterday it announced plans to expand into Saudi Arabia as alternative investment vehicles grow. Saxo Bank expects to invest as much as $50m in the region over the course of three years.
Michael,
Forex Magnates
