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Saxo to get acquisitive?

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According to Danish news reports, Saxo Bank is considering taking advantage of the downturn in bank valuations and going on a bargain hunt. The reports suggest that Saxo is now ready to mature from being effectively an FX and securities trading platform to a bank in the sense that most of us understand. Danish daily Jyllands-Posten quoted Saxo director Henrik Vad as saying: “I can confirm that we are interested in becoming a more traditional bank with emphasis on savings and pensions. And it is true that we have talked to several different [banks] and demonstrated that Saxo Bank could be an alternative for those who may have an incentive to seek a strong partner.”