Tuesday 17 December 2019
Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, is celebrating 10 years of operations in the Middle East, reporting a 25 percent annualized growth rate for assets under management (AUM) and a five-fold increase in its regional client base.
Growth has been spearheaded from Saxo Bank’s regional Dubai hub, which at the time of opening, was the first presence by a Danish bank in the region. As part of its growth, Saxo Bank recently relocated its offices to Boulevard Plaza, Downtown Dubai. The new office provides additional space for seminars, networking and to address the growing needs of Saxo Bank’s clients in the region
The bank said Dubai was chosen for its strategic location at the heart of a region poised for significant fintech development and global financial market exposure.
Its Middle East business has grown substantially in recent years with the total number of clients multiplying five times over.
Saxo Bank’s partner business, which includes Middle East and North African investment bank EFG Hermes, is also growing in the region. It now services more than 30 other banks, brokers and family offices.
Fintech and digital transformation are the drivers of the financial industry over the coming decade.