Saxo Bank has reported that it has finalized its take-over of Synthesis Bank. With the approval of the Swiss and Danish banking authorities, Synthesis has officially become Saxo Bank Switzerland headquartered in Geneva and with an office in Zurich.
The bank is planning to consolidate its position on the Swiss market which manages a significant share of the world’s private wealth assets. With its new operation and the joint forces of old and new employees, Saxo Bank sees huge potential to expand its business and create new opportunities in those parts of the world that appreciate the combination of Saxo Bank’s full product range with the special qualities of a Swiss bank.
Soren Mose is the new CEO of Saxo Bank Switzerland. Coming from a job as the managing director of Jyske Bank’s Swiss subsidiary in Zurich, Mr Mose brings the experience and expertise that will help Saxo Bank Switzerland to take the already successful operation even further and take full advantage of the wealth management opportunities.
Charles-Henri Sabet, the former CEO and the biggest shareholder of Synthesis, is now a member of Saxo Bank’s senior management group and the chairman of the board of directors of Saxo Bank Switzerland. Mr Sabet is in charge of the entire group’s trading activities and sees big potential for some of Saxo Bank’s products in the current market conditions.
Kim Fournais and Lars Christensen, the two CEOs of Saxo Bank, jointly stated: From being a close and highly esteemed partner, Synthesis is now officially part of Saxo Bank. We see enormous opportunity in this for our existing and new clients and have no doubts that this will enable us to bring even more competitive offerings and also expand our wealth management product range.