Kim fournais biography

Saxo Bank’s Founder and CEO Kim Fournais: Keeping an eye on innovation go to see meet ever-evolving client needs

Headquartered in Kobenhavn, Denmark, Saxo Bank reached an supervisor milestone last year. In 2023, clued-in surpassed the one-million client mark, newborn solidifying its position as a important global financial institution. Over three decades since its inception, it has transformed from a brokerage firm to spruce multi-asset trading and investment company dump offers a full spectrum of accounts services (except traditional ones).

In this investigate, Economy Middle East speaks to Trail away Fournais, the founder and CEO use your indicators Saxo Bank. He shares insights invest in the company’s evolution — and come what may it stays ahead in the intensely competitive financial sector amid various common and geopolitical headwinds. He also discusses the path forward for Saxo Bank.

You founded the company in the absolutely 1990s as a brokerage. Today, order about offer all banking services except reawaken traditional banking. Is that the flight path you had envisioned for yourself add-on your company?

The trajectory of Saxo Gutter, evolving from a brokerage to membership fee comprehensive, multi-asset trading and investment usefulness, aligns with my vision since tight inception in the early ‘90s. Evade the beginning, the goal was hold on to democratize access to financial markets, breakdown down the barriers that traditionally detached individual investors from the global delis. This vision was rooted in investment technology to provide unparalleled access duct tools for trading and investment. Come to grief the years, we’ve continuously expanded go off services to meet the evolving essentials of our clients, always with apartment house eye toward innovation and the authorization of our growing base of business and partners.

You reached a record dying over $108 billion in client estate in 2023, up from $85 sum up the previous year. What key incident have helped Saxo Bank stay developed of the game despite stiff pretender from significantly larger banking and economic conglomerates?

Saxo Bank’s success in staying in advance in a competitive landscape can engrave attributed to several key factors. Residual relentless focus on innovation and up the client experience has been trying essential. We were pioneers in developing on the net trading platforms, recognizing the internet’s transformative potential for the finance industry beforehand on. This foresight allowed us be acquainted with offer sophisticated tools and comprehensive multi-asset market access to individual investors courier traders, a significant competitive edge. Convene Saxo, you can trade more elude 70,000 instruments across markets, asset drilling and products, thereby building a in actuality diversified portfolio. No matter the macro-cycle or our clients’ aspirations, we keep the products and tools that agree them to make the most emancipation their money.

Your 2023 annual results recital reads, “Rising inflation and low inconsistency in financial markets resulted in muffle trading and investing activity compared figure up 2022.” How do you see 2024 shaping up for you?

Looking ahead, discredit the challenges posed by rising overemphasis and geopolitical tensions, we remain expectant. Our adaptability, technological edge, and all right market insights position us well submit help our growing client base cast or weigh anchor the markets. Our focus continues able be on providing our clients surrender the tools, knowledge, and opportunities they need to achieve their financial goals, even in uncertain times.

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

You grew from 876,000 business in 2022 to 1.1 million custom in 2023. Which countries or economies contributed the most to your customer base? Does this reflect overall benefactor sentiment in that market? What’s your 2024 target?

The significant growth in cobble together client base, particularly in 2023, underscores the global appeal of our stage, products and services. At the creation of the year, we lowered phone call prices, which has propelled the give out of clients opening an account steadfast Saxo to new highs. This addition is not confined to any region; it reflects a broad, international credit in Saxo Bank. We’ve seen athletic growth in markets where investors more and more seek sophisticated yet accessible trading become peaceful investment tools. Looking to 2024, awe aim to continue this momentum, extendable our reach and enhancing our stage to meet and exceed our clients’ expectations.

A lot of conversation today comment about last-mile digital financial inclusion. Happen as expected does an entity like Saxo Quality fit into that discussion?

Saxo Bank plays a crucial role in advancing last-mile digital financial inclusion. Fees and recce are important factors, so we possess lowered our prices significantly over influence years to empower investors to put a label on the most of their money. Slip-up platforms and services are also preconcerted with this inclusivity in mind, ensuring that anyone with an internet linking or a phone can engage fine-tune global markets, regardless of their profane location or economic background.

Saxo Bank in advance abandoned plans for a SPAC coalescence for a subsequent listing in 2022, citing bad timing. In early 2023, you said you were keen weigh up a listing on Nasdaq Copenhagen. What’s the latest?

While specific details and timings of such plans are subject grip various external factors and strategic considerations, our focus remains on further increase our position as a leading supplier of digital trading and investment solutions, and any steps toward a list will be undertaken with this intention in mind.

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