Untitled - Saxo World

As a consequence of the changed business direction theorganisation of the Bank has been aligned. While approachingthe newly defined customer groups separatelyfrom a commercial point of view the key driver in the newbusiness structure remains the utilisation of the core technologicalcapabilities of the Bank across all segments. Theaim is to service clients through technology and capacityutilisation as well as to exercise business synergies in full.The traditional part of Saxo Bank is the Commercial Groupthat provides products and services to the traders (segment1 and 2). In order to enhance the service offering tothe Sophisticated Trader, Saxo Bank has established aTrade Advisory Team. The focus of the team is to providea structured and professional service to clients. Furthermore,the team provides guidance to increase clientawareness of risk management.A newly established Banking and Online Investment businessarea will focus on the development of a new productand service suite that is designed to cater for the Self-directedInvestor (segment 3). This suite includes the launchof a new equity offering, an online wealth managementplatform and eventually traditional banking and pensionproducts to the Nordic market.Finally, Saxo Asset Management was launched in 2009 tocater for the top segment of investors which are definedas the high-net-worth individual and institutional investors(segment 4).Saxo Asset ManagementThe acquisitions of Sirius, Capital Four and a 51% stakeof Global Evolution marked a new era for the Bank in thearea of Asset Management.The strategy is to become a long-term business partner inasset management and the provider of tailored, innovative,transparent solutions for high-net-worth individualsand institutional investors. The first step was taken withthe three acquisitions made in 2009 that established astrong Nordic presence with core competencies restingwithin Danish Bonds, Nordic Stocks as well as high-yieldand emerging market bonds.During 2009, Saxo Asset Management grew its asset undermanagement from practically nil to more than DKK 20billion at the end of 2009. This was achieved through acquisitionsand through significant organic growth throughthe on-boarding of new high-net-worth individuals andinstitutional investors.The main focus during 2009 was to integrate the threecompanies and to combine the core competencies in astrong Asset Management offering while increasing marketshare. This resulted in the launch of the Saxo AssetManagement concept under which each of the threecompanies benefits from their individual brand and clientrecognition while at the same time linking their brand tothat of Saxo Bank.Banking and Online InvestmentThe build-up of the Banking and Online Investment businessarea was taken in three separate steps.EuroInvestorThe first strategic move in the new business area was takenin February 2009 when the Bank announced the acquisitionof a minority stake in the Danishlisted company,EuroInvestor, which specialises in providing online investmentinformation through the website, EuroInvestor.com.EuroInvestor has approximately 1.4 million unique usersper month spread across Europe.Saxo Bank believes that investor communities and financialnews portals have an important role to play in the futuremarket of online financial services. For the Self-directedInvestors the financial communities are a commoncentre of reference that facilitate market discussions andthe exchange of investment ideas.It is the intention of Saxo Bank to explore the potentialsynergies in bridging the online universe of the communitiesand the trading platforms of the Bank.32 · SAXO BANK · ANNUAL REPORT 2009