Saxo Bank has decided to open an office in Milan in response to strong growth in Italy. The bank says its Italian private client business grew by 48% in 2008 and that FX volumes expanded by 78%. The Milan office, which will be run by Torben Rene Larsen, will focus on FX trading, although the bank says it will also offer the full range of its products. As a result, can we expect Saxo’s cycling team to feature prominently in this year’s Giro d’Italia, which starts in May?