DMA announced on Tuesday that it has entered into an agreement to take a majority stake in the multi-asset investing specialist.
Part of the South African software provider’s push to launch in the Australian market, DMA said Saxo Australia would “continue to leverage” Saxo Bank’s platform and trading technology, resulting in minimal disruption for clients.
Under the deal, Saxo Bank will retain a 19.9 per cent equity stake in Saxo Australia, with the transaction expected to close in the second half of 2025.
According to DMA, the firm’s “business-to-business know-how, world-class adviser offering and track record of growth” will complement Saxo Australia’s range of investment products and brokerage services.
“We believe DMA’s platform offering will bring tangible benefits to Australian financial advisers and wealth managers, while the business will continue to focus on delivering high-touch, high-quality service for self-directed retail clients,” DMA chief executive Richard North said.
“It’ll be the best of Saxo and the best of DMA – and we think that adds up to the marketplace’s best choice for investors across the entire life cycle.”
Upon launch, DMA aims to target Australian institutional investors, including financial advisers and asset and fund managers, through its software as a service offering to streamline “front, middle and back-office functions under a single solution”.
“With this agreement with DMA, Saxo Bank leverages its core strength – providing a scalable and multi-asset trading infrastructure with our award-winning platforms,” Saxo Bank CEO and founder Kim Fournais said.
“We couldn’t be more pleased to partner with DMA as we seek to capitalise on the huge opportunity in the Australian market and fully leverage this win-win solution to get more curious people invested in Australia.”
While it will eventually be renamed, Saxo Australia will continue to operate under its current branding during a transitional period while its staff will also be retained under CEO Adam Smith.
“We will ensure a smooth transition and aim to enhance the offerings and services provided,” Smith said.
“The clients of Saxo Australia will notice no disruption in service, product range or platform access. We are very pleased to partner up with DMA and believe that this will be a game changer for Australian clients.”
