Saxo Bank, a Danish multi-asset service provider, has inked an eight-year agreement with Italy’s Banca Generali to provide online trading and investment services to Italian clients.
Through the collaboration, the companies aim to offer customers in Italy access to an advanced trading platform powered by Saxo Bank technology.
The companies will also have the provision to extend the agreement at the end of the expiry period.
Under the agreement, the companies will form a joint venture (JV) called BG SAXO Sim. The JV will have a separate board of directors comprising seven new members.
The JV will also have a steering committee, including CEOs, CFOs, and COOs of the two companies.
“This partnership opens up new opportunities for our bank, which is expanding its exclusive solutions with a range of excellent digital services, and especially for our network of financial advisers and clients, to whom our private bank will be able to provide an even more extensive range of tools which will add value and greater choice.”
Saxo Bank CEO and founder Kim Fournais added: “With Saxo Bank’s unique technology stack and Banca Generali as a very strong local partner, clients benefit from the best trading experience with regards to product, platform, price and service.”