FX: Saxo expands further into asset management
Saxo Bank has purchased stakes in two specialist asset managers, taking the entire share capital of Capital Four Management and 51% of Global Evolution.
Capital Four’s expertise is in European corporate bonds, while Global Evolution focus is in emerging market fixed income and FX.
The acquisitions bring around DKK14 billion ($2.64 billion) of assets under management under Saxo Asset Management’s umbrella. "We regard Capital Four and Global Evolution as among the leading European asset managers in their own sectors. The companies are therefore eminently suited to our strategic purposes in asset management," says Bjarne Thorup, director of Saxo Bank’s asset management activities.