DMA Takes Control Of Saxo Australia With 80.1% Share Acquisition
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Saxo Australia, the Australian branch of Saxo Bank, changed ownership as DMA, a company from Johannesburg, bought most of its shares. On Monday, it was announced that DMA would take 80.1 percent of the business, while Saxo Bank from Denmark would keep 19.9 percent.
The sale is coming at the time Saxo Bank is looking for new owners after its plan to sell shares to the public did not work. Reports noted that different buyers showed interest, but Saxo Bank had not confirmed anything yet.
Saxo Australia Plans To Keep Services Steady While Preparing For Change
According to the announcement, Saxo Bank reviewed its goals in the Asia-Pacific area, trying to grow faster. At the same time, DMA wanted to enter the Australian market with its services.
Richard North, who led DMA, said his company’s tools would help financial advisers and wealth managers in Australia. He also said that the Australian business would still serve independent investors with good service.
North believed that putting Saxo’s and DMA’s strengths together would give investors the best choice at every stage of their journey.
The two companies expected to complete the sale in the second half of 2025. However, they had not shared details about the price.
After some time, Saxo Australia would change its name, but at first, it would keep its old name. The company would continue to keep its team, including Adam Smith, who led Saxo Australia.
Smith explained that customers would still get the same services on Saxo’s system. He added that they would work hard to make the change smooth and improve what they offered. He also shared that joining DMA would bring something new for Australian investors.
Saxo Australia Focuses On Stability While Embracing Future Growth
Earlier, Admirals had also sold its Australian business, but the buyer was not known. Meanwhile, another important sale in the trading industry was FTMO’s purchase of OANDA.
Saxo Bank, based in Denmark, helped people trade and invest online. It started in 1992 as a brokerage firm named Midas Fondsmæglerselskab, founded by Lars Seier Christensen and Kim Fournais.
In 2001, it changed its name to Saxo Bank when it received a banking license. The bank provided access to currencies, stocks, contracts for difference, futures, funds, bonds, and other financial options through its own online platforms.
DMA is a tech-focused company that offers a complete SaaS solution for institutional investors. It helps regulated firms such as asset managers, wealth managers, investment managers, and financial advisors connect their front and back offices, streamline operations, and lower staffing needs.
