Saxo Bank

Saxo Bank strengthens build-out of institutional business by signing partnership with JSC Galt & Taggart

Saxo Bank, the multi-asset trading and investment specialist, today presents its new white label partnership with JSC Galt & Taggart, a wholly owned investment banking subsidiary of Bank of Georgia Holdings PLC listed on the main market of the London Stock Exchange.

Saxo Bank’s white label trading technology solution will enable Galt & Taggart’s clients to access global capital markets and invest on a multi asset basis providing them with an adaptive and intuitive trading experience unique for a Georgian financial institution.

Matteo Cassina, Global Head of Lines of Business, Saxo Bank says, ”The partnership is the first of its kind in the region and our aim is to kick-start a true digitalisation of high growth frontier markets. With more than 100 white label partners around the world today, Saxo takes a lead in transforming the way traders and investors access trading opportunities.”

“Saxo Bank has always had a passion for democratising trading and levelling the playing field for traders and investors. In doing so, Saxo Markets, the Institutional Division of Saxo Bank Group, look to well-regulated markets where our solution can add value to local financial institutions. We believe better access to trading technology in the region, through leading financial institutions like Bank of Georgia, will revolutionise the way private investors access opportunities in the Eurasian region,” added Cassina.

JSC Galt & Taggart is a wholly-owned subsidiary of Bank of Georgia Holdings PLC (BGEO:LN) which offers a wide range of investment banking and investment management services through its Investment Banking, Asset Management, Brokerage, Wealth Management, and Research units.

Bank of Georgia Holdings PLC is a UK incorporated holding company of the Georgia-based banking group. Its primary business is JSC Bank of Georgia, the leading Georgian bank by total assets. The banking business offers a broad range of retail banking, corporate banking, investment management and P&C insurance services. Bank of Georgia serves approximately 1.9 million client accounts through one of the largest distribution networks in Georgia including 246 branches.

“I am proud to announce our partnership with Saxo Bank enhancing our clients’ trading practice by bringing the latest expertise to the market. This collaboration with Saxo Bank will enrich Galt & Taggart’s services and better position the company to help local and regional investors explore investment opportunities and offer greater access to global capital markets. I want to congratulate the Galt & Taggart team with the completion of this key milestone in their aim to develop capital markets in the region,” says Irakli Gilauri, group CEO, Bank of Georgia Holdings PLC.

“Today we are unveiling a new service that offers a flexible, secure and competitively priced tool to make multi-asset investments globally. I’m proud that Galt & Taggart is the first investment bank in the region to partner with Saxo Bank and bring the latest trading technology that will allow our clients to have direct online access to financial markets and receive full service across the trade cycle,” says Archil Gachechiladze, Chairman, Galt & Taggart adding, “I would like to thank Saxo Bank for a very fruitful cooperation and I am looking forward to seeing our clients enjoy the new platform.”

The new partnership will further bolster the build-out of Saxo Market’s business platform for its growing institutional client bases of which white label partnerships are a key element. White label partners outsource trading technology to Saxo, and offer their end-clients access to Saxo’s superior trading platforms. Today, more than 120 banks and brokers trust Saxo with outsourcing their trading technology.

The new partnership will be celebrated at an event in Tbilisi today, 25 November. Saxo Bank’s co-founder and co-CEO Lars Seier Christensen and Group Chief Economist, Steen Jakobsen will attend the event.