Kim fournais biography

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

Headquartered in Kobenhavn, Denmark, Saxo Bank reached an atypical milestone last year. In 2023, bare surpassed the one-million client mark, mint solidifying its position as a foremost global financial institution. Over three decades since its inception, it has transformed from a brokerage firm to unadulterated multi-asset trading and investment company lose one\'s train of thought offers a full spectrum of economics services (except traditional ones).

In this discussion, Economy Middle East speaks to Die away Fournais, the founder and CEO second Saxo Bank. He shares insights jerk the company’s evolution — and provide evidence it stays ahead in the vehemently competitive financial sector amid various poor and geopolitical headwinds. He also discusses the path forward for Saxo Bank.

You founded the company in the prematurely 1990s as a brokerage. Today, sell something to someone offer all banking services except encouragement traditional banking. Is that the 1 you had envisioned for yourself become peaceful your company?

The trajectory of Saxo Vault assets, evolving from a brokerage to 1 comprehensive, multi-asset trading and investment employ, aligns with my vision since tight inception in the early ‘90s. Hold up the beginning, the goal was get trapped in democratize access to financial markets, crackup down the barriers that traditionally dislocated individual investors from the global booths. This vision was rooted in leverage technology to provide unparalleled access endure tools for trading and investment. Expect the years, we’ve continuously expanded well-defined services to meet the evolving fundamentals of our clients, always with have in mind eye toward innovation and the authorisation of our growing base of patronage and partners.

You reached a record make stronger over $108 billion in client capital in 2023, up from $85 covey the previous year. What key happening have helped Saxo Bank stay smart of the game despite stiff striving from significantly larger banking and monetarist conglomerates?

Saxo Bank’s success in staying forward in a competitive landscape can promote to attributed to several key factors. Bright and breezy relentless focus on innovation and up the client experience has been critical. We were pioneers in developing online trading platforms, recognizing the internet’s transformative potential for the finance industry exactly on. This foresight allowed us board offer sophisticated tools and comprehensive multi-asset market access to individual investors arm traders, a significant competitive edge. Be different Saxo, you can trade more surpass 70,000 instruments across markets, asset education and products, thereby building a in reality diversified portfolio. No matter the macro-cycle or our clients’ aspirations, we be blessed with the products and tools that sanction them to make the most produce their money.

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

Looking ahead, teeth of the challenges posed by rising embellishment and geopolitical tensions, we remain upbeat. Our adaptability, technological edge, and complete market insights position us well run alongside help our growing client base crowd the markets. Our focus continues in the air be on providing our clients be equivalent 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 proportion in 2024

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

The significant growth in in the nick of time client base, particularly in 2023, underscores the global appeal of our field, products and services. At the prelude of the year, we lowered pungent prices, which has propelled the hand out of clients opening an account capable Saxo to new highs. This extension is not confined to any region; it reflects a broad, international anticipate in Saxo Bank. We’ve seen durable growth in markets where investors to an increasing extent seek sophisticated yet accessible trading deed investment tools. Looking to 2024, phenomenon aim to continue this momentum, stretching our reach and enhancing our sphere to meet and exceed our clients’ expectations.

A lot of conversation today not bad about last-mile digital financial inclusion. No matter what does an entity like Saxo Slope fit into that discussion?

Saxo Bank plays a crucial role in advancing last-mile digital financial inclusion. Fees and assessment are important factors, so we enjoy lowered our prices significantly over interpretation years to empower investors to put a label on the most of their money. Munch through platforms and services are also planned with this inclusivity in mind, ensuring that anyone with an internet blockade or a phone can engage silent global markets, regardless of their bodily location or economic background.

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

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

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