In June 27, 2001, Kim and Lars summoned all the employees to break great news: “Ladies and gentlemen, we are no longer a broker company, but a BANK.
Saxo Bank A/S is a fully licensed Danish Bank under the supervision of Finanstilsynet (the Danish FSA)
Glimpse into Saxo Bank’s 20-year history of excellence
Third milestone: Transformation from a broker company to an authorised bank
Moving to Gentofte – a nice and bigger office
As Midas Fondsmæglerselskab’s team grew bigger due to its hard work and determination, the company moved to a new bigger office in Gentofte. This move marked the beginning of the company’s grand expansion, with employee figures climbing from just 43 in 1997 to 93 in 2001. The company’s founders were pleased with the new office space which was a perfect fit to accommodate the needs of a growing family of dedicated employees.
In the early morning of June 27, 2001, Kim and Lars summoned all the employees to break great news: “Ladies and gentlemen, we are no longer a broker company, but a BANK. As of today, we are to be called SAXO BANK”.
The name Saxo Bank honors one of Denmark’s most revered figures, Saxo Grammaticus, the medieval scholar and historian who first chronicled the history of the Danish people. Written originally in the thirteenth century, Saxo Grammaticus’ “The Story of the Danes” combines myth, legend and history into a landmark cultural work. Today, the name of this historical icon lives on through Saxo Bank, headquartered in Copenhagen with offices throughout Europe, Asia, Middle East, Latin America and Australia.
Following the banking license, Saxo Bank experienced exponential growth. The bank boasted customers from 95 countries and was able to offer the following products:
- Forex: 35 crosses
- CFDs: 500 CFDs
- Futures: 3 exchanges (Eurex, Liffe, & CME)