Saxo Bank named Best Provider of FX Services in Denmark in Euromoney

Lars Seier Christensen, CEO of Saxo Bank and one of the two founding fathers, says that the recognition has a very special meaning for the bank. “When Kim Fournais and I founded Saxo Bank back in 1992, we wanted to challenge the establishment banks and brokers. In Denmark, some banks almost had a monopoly on Forex trading. That’s never healthy and I believe Saxo Bank helped change that. On that note, we are, of course, very proud to be recognised today as the best provider of Forex Services,” says co-CEO Lars Seier Christensen.

In recent years Forex has gained recognition by private banking clients as an asset class in its own right. This has led to higher Forex trading volumes and also more specialised Forex institutions serving the high net worth client segment. Euromoney Magazine Editor, Mr Clive Horwood, noted: “While concerns grow about the state of the global economy and the banking sector in particular, there is no doubt that global wealth continues to increase at a rapid pace. These wealthy individuals and families are spread over an increasingly diversified geographic base, and are demanding a higher quality of service from the banks and people who manage their wealth.”

Saxo Bank recently acquired Swiss Synthesis Bank in order to boost its private banking and wealth management as part of an ambitious growth strategy aimed at the year 2010. Mr Soeren Mose, an off-shore banking veteran with 15 years experience and a long time CEO of Danish Jyske Bank’s Switzerland operations, will take over as the new CEO of Saxo Bank Switzerland. Mr Thierry Thevenaz, formerly partner and deputy CEO at Synthesis Bank, will head a new trading desk servicing high net worth clients.

“One of Saxo Bank’s priorities for the coming years is to grow our private banking and wealth management segments. The acquisition of Swiss Synthesis Bank and the forthcoming opening of Saxo Bank Switzerland will support that. The Euromoney award is a great acknowledgment that we are on the right path,” Lars Seier Christensen says.

Regarded as the key survey and benchmark ranking scale in the global private banking and wealth management industry, the Euromoney Private Banking and Wealth Management Survey is now in its fifth year. The 2008 survey, which took place between September and November, generated responses from nearly 400 institutions in over 50 countries and over 1,200 private banking professionals voted for the leading banks in the industry.

The full results are available on www.euromoney.com to subscribers.

About Euromoney

Euromoney Magazine is the flagship title of the London-based financial communications company Euromoney Institutional Investor PLC. Founded in 1969 by Sir Patrick Sergeant, Euromoney Magazine is the voice of the international capital markets and for 36 years has offered unparalleled coverage of the global bond, equity and foreign exchange markets Euromoney Institutional Investor PLC is a constituent of the FTSE-250 Index and is listed on the London and Luxembourg Stock Exchanges.

About Saxo Bank A/S

Saxo Bank A/S is a modern investment bank specializing in online investments in international Capital Markets. Saxo Bank enables clients to trade currencies, shares, CFDs, futures, options and other derivatives, as well as providing portfolio management via our online trading platform, SaxoTrader. SaxoTrader has been developed by Saxo Bank and is available to today's investor directly through Saxo Bank or through one of our global partnerships, where it forms an integral part of their infrastructure. One of Saxo Bank's significant areas of business is White Labelling. This involves the bank’s online trading platform being customized and branded for other financial institutions and brokers. Saxo Bank has more than 100 White Label Partners and boasts thousands of clients in over 177 countries. The bank's website www.saxobank.com receives approximately 65,000 visitors every day. Saxo Bank currently employs almost 1,200 employees from 58 different countries.

Saxo Bank has its headquarters in Copenhagen, with operating offices in London, Geneva, Zürich, Singapore and Marbella. It also runs a representative office in Beijing and an IT development centre in St. Petersburg.