Saxo Bank, a Danish multi-asset brokerage company, is expanding its India presence and relocating more than 500 employees into Gurugram.
The company stated that this decision shows its investment efforts in technology, and opinion about Gurugram as a hub for fintech innovations.
Plans of Saxo Group India
Saxo Group India plans to hire another 200 employees in India.
“Saxo is making major investments in IT with the aim of digitalizing the whole value chain and leveraging new technology. The new office in Gurugram provides an inspiring environment to accomodate our ambitons strategy plan of growing our team by more than 200 people in the next few years. Our key priorities are to continue to be a pioneer in the industry by moving to the cloud and use machine learning and artificial intelligence to keep pushing the boundaries of what technology can achieve in finance,” said Deepak Gupta, COO at Saxo Group India.
The team led by Deepak Gupta had 280 employees in 2013, and now with this expansion that number has raised to 500.
“We usually say that Saxo Bank is an IT-company with a banking license. Despite being more than 25 years old, Saxo has never stopped thinking like a start-up, and we are truly agile in how we embrace new developments and innovation. Saxo India has been instrumented in the journey to become a leading fintech specialist and our team in Gurugram has grown eightfold to more than 500 extemely skilled and dedicated Saxonians. We look forward to welcoming even more talented people in the near future,” said Kim Fournais, CEO & founder at Saxo Bank.
Last month, Chinese car company Geely bought a 52% stake in Saxo Bank from its founders. The purchase price was not unveiled.
About Saxo Bank
Saxo Bank is a Danish investment bank, established in 1992. Over the years, Saxo Bank established itself as one of the leading retail forex and multi-asset brokerages, with multiple regulated entities.
Clients of Saxo Bank can trade currencies, CFDs, shares, futures, options, metals and other.