Italian bank Banca Generali and Copenhagen-based broker Saxo Bank have reached an agreement to establish an exclusive partnership for access to trading on global markets.
Saxo Bank technology
The deal will allow Banca Generali to offer its clients online trading and digital services on an exclusive basis for the Italian market. Provided by Saxo Bank’s technology, Banca Generali clients will gain access to an innovative platform for advanced trading, managed by a newly established SIM owned by Banca Generali and Saxo Bank.
Deep strategic focus on private banking
As Banca Generali deepens its strategic focus on private banking and its drive towards technological innovation, the new platform will enhance the offering available to the bank’s financial advisors, allowing the access to tailor-made operations and to innovative solutions of dynamic hedging that can be offered to both private and corporate clients.
The agreements regulating the partnership between Saxo Bank and Banca Generali is due to be signed by the end of the year 2017. In any case, the agreements will be subject to the conditions precedent customary and appropriate to this type of transactions (including from a regulatory and authorization standpoint).
About Banca Generali
In Italy Banca Generali is a leading player in financial planning and wealth management for clients, leveraging on its top-of-the-industry network of financial advisors and versatile and innovative asset management services. The bank manages €52.1 billion (at 30 June 2017) for more than 250,000 customers through networks of about 1900 professionals across Italy. The Company’s mission is having “trusted professionals always by the Customer’s side, developing and looking after their life plans”.
Currently, Banca Generali’s customizable offer is made up of banking services, investment solutions, advisory, and wealth management:
- Two distribution networks segmented by target customers (Banca Generali Financial Planner and Banca Generali Private Banking).
- BG Fund Management Luxembourg, the company under Luxembourg law responsible for developing and managing top asset management products, and a trust company: Generfid Spa.
- A range of over 5,200 top financial instruments of more than 50 leading international management firms, exclusively available to Banca Generali Group’s customers.
- An advanced system of digital contact service for the operations.
Saxo Bank is a 25-year old multi-asset trading and investment specialist that enables individuals and institutions by facilitating their access to professional investing and trading through technology and expertise. Saxo provides multi-asset execution, prime brokerage services, and trading best technologies. It provides the technological backbone of more than 100 financial institutions worldwide