27 February 2013

Saxo Bank Opens New Office in Montevideo, Uruguay

27 February 2013 - ​​​Saxo Bank has opened a new office in Montevideo, Uruguay today. From the new office which is located in the Zonamérica district, the financial and business centre of Uruguay, Saxo Bank will provide all retail clients in Latin America with a service that is completely tailored to their investment needs. 

Saxo Capital Markets Agente de Valores, SA, is intended to bring the Bank closer to its customers in the region and offer a service that is fully adapted to the needs of Latin American investors. Saxo Bank entered the Latin American market in 2012 with the acquisition of Uruguayan broker NVN Securities, Agente de Valores, which was founded in 2005 and is fully authorised by Uruguay’s Central Bank. 

Luis Simões Pereira, Director of Saxo Capital Markets Uruguay, said: “With the opening of Saxo Capital Markets Agente de Valores, SA, we are expanding our presence on a continent with some of the most effervescent economies in the world. We've seen a significant and constant increase in trading among Latin American investors, largely due to the improved economic situation and the quick development of technological infrastructure. The aim of this new office is to develop the business even more and become closer to our customers and their needs. We are continuing to expand our offer and adapt it to Latin American investors through our modern multiple assets platform.” 

Kim Fournais and Lars Seier Christensen, founders and CEOs of Saxo Bank, said in a joint statement: “The opening of the new office in Montevideo is another milestone in Saxo Bank’s history and global expansion. With this new office, we expand our presence in a vibrant and eclectic continent that has much to offer. Latin America has some of the most promising economies and we anticipate investors will require a broader range of financial products such as Forex, international stocks, futures and options. By having a presence in this market, Saxo Bank is well positioned to facilitate these demands together with our institutional clients.” 

Saxo Capital Markets Uruguay recently launched its new website, latin.saxomarkets.com, reflecting client proximity and the extensive product offering in Latin America. 

The Saxo Bank Group was founded in 1992 by its co-CEOs Kim Fournais and Lars Seier Christensen. Since 2006, Saxo Bank’s geographical footprint has expanded rapidly and today, in addition to its headquarters in Denmark, the EU-regulated Bank is present in 22 countries. 

Source: Saxo Bank