Saxo Bank’s Australian unit will be rebranded under its new owner, as planned during its sale earlier this year. Announced today (Tuesday), Saxo Australia will officially change its name to Totality on 11 August 2025.
“While our look is changing, everything you rely on stays the same: an award-winning trading platform, global market access, competitive pricing, and dedicated human support,” the company wrote in a LinkedIn post.
Saxo Australia Becomes Totality
As FinanceMagnates.com reported earlier, Johannesburg-based DMA, a technology provider for financial advisers and wealth managers, acquired a majority stake in Saxo Australia. DMA took 80.1 per cent of the Australian business, while Saxo Bank, based in Denmark, kept a 19.9 per cent holding.
The sale came as Saxo reviewed its strategy in the Asia-Pacific region to support growth, while DMA prepared to launch its services in the Australian market.
Despite the rebrand, Saxo Australia earlier confirmed that existing clients would continue to receive services through Saxo’s infrastructure. DMA also retained the current staff, including CEO Adam Smith.
Saxo Bank Has Also Been Sold
One month after the Australian deal, Swiss private bank J. Safra Sarasin agreed to acquire a 70 per cent stake in Saxo Bank for around €1.1 billion (US$1.19 billion). The deal, which is yet to close, values the Danish trading and investment firm at roughly €1.6 billion.
The new buyer will acquire Finnish firm Mandatum’s 19.8 per cent stake, along with the 49.9 per cent stake held by Chinese group Geely. Saxo Bank’s founder and CEO, Kim Fournais, will keep his 28 per cent stake and remain as Chief Executive.
The sale follows Saxo’s failed attempt to go public via a blank-cheque company in 2022. That SPAC deal collapsed within months, with the broker citing market “timing” concerns.
Saxo Bank’s Australian unit will be rebranded under its new owner, as planned during its sale earlier this year. Announced today (Tuesday), Saxo Australia will officially change its name to Totality on 11 August 2025.
“While our look is changing, everything you rely on stays the same: an award-winning trading platform, global market access, competitive pricing, and dedicated human support,” the company wrote in a LinkedIn post.
Saxo Australia Becomes Totality
As FinanceMagnates.com reported earlier, Johannesburg-based DMA, a technology provider for financial advisers and wealth managers, acquired a majority stake in Saxo Australia. DMA took 80.1 per cent of the Australian business, while Saxo Bank, based in Denmark, kept a 19.9 per cent holding.
The sale came as Saxo reviewed its strategy in the Asia-Pacific region to support growth, while DMA prepared to launch its services in the Australian market.
Despite the rebrand, Saxo Australia earlier confirmed that existing clients would continue to receive services through Saxo’s infrastructure. DMA also retained the current staff, including CEO Adam Smith.
Saxo Bank Has Also Been Sold
One month after the Australian deal, Swiss private bank J. Safra Sarasin agreed to acquire a 70 per cent stake in Saxo Bank for around €1.1 billion (US$1.19 billion). The deal, which is yet to close, values the Danish trading and investment firm at roughly €1.6 billion.
The new buyer will acquire Finnish firm Mandatum’s 19.8 per cent stake, along with the 49.9 per cent stake held by Chinese group Geely. Saxo Bank’s founder and CEO, Kim Fournais, will keep his 28 per cent stake and remain as Chief Executive.
The sale follows Saxo’s failed attempt to go public via a blank-cheque company in 2022. That SPAC deal collapsed within months, with the broker citing market “timing” concerns.
This post is originally published on FINANCEMAGNATES.
