Saxo Bank gains Swiss Synthesis

"Switzerland is the centre of private wealth management and banking, and that has quite a lot of relevance for us because we would like to be the preferred platform for the global trader investor," said Kim Fournais, co-chief executive of Saxo Bank. "Synthesis will help with implementing this strategy."

As part of the deal, Synthesis shareholders are getting 6.7% of Saxo Bank in shares plus an undisclosed amount in cash, Fournais told FX Week. The shareholding is based on a valuation that is well