Copenhagen - Saxo Bank, the online trading and investment specialist, announced today that it had bought the Danish stockbroker and wealth management company Sirius. Sirius has acquired an impressive management portfolio of more than EUR 670 million (DKK 5 billion) over a two-year period.
The three founders Peter Sandberg, Mads Aagesen and Peter Gyrup, took the decision to sell the Group to Saxo Bank with their partners, Henrik Birk and René Spurré. The five of them make up the partner group.
CEO Peter Sandberg says: “We are very proud to become a part of Saxo Bank, and we see this as a perfect match as we have a number of clients demanding several of the products with which Saxo Bank has considerable experience. Saxo Bank’s existing clients are already familiar with the independent approach to advice, and with our expertise we will be able to strengthen our service and offer even better products.”
Sirius will operate as a subsidiary of Saxo Bank, and thus maintain an independent profile, while Peter Sandberg will continue as CEO.
Karsten Poulsen, Saxo Bank’s Deputy Chief Executive Director, comments: “Saxo Bank has won international recognition for its trading platform, which is ideal for rolling out a number of competitive products. Saxo Bank and Sirius already share many competencies, and it would be an obvious move to make use of these when building up our Asset Management and Private Wealth function. I therefore expect that we will soon be able to offer our clients even more attractive products.”
Karsten Poulsen tells that with this acquisition, Saxo Bank wants to affirm its dedication to the Private Wealth business.
Karsten Poulsen, Saxo Bank’s Deputy Chief Executive Director, comments: “Sirius has a well-established, experienced and strong team and as a result of the merger, we expect solid results to continue. We highly value the independent expertise that Sirius provides and believe that as a result of this merger we will be able to offer our clients an enhanced proposition with new products. We want to offer our clients an independent service and to strengthen an area where we see good growth opportunities. The well-documented and reliable capabilities that Sirius has shown, along with our own online profile, will create great synergies that will produce good opportunities."