DMA Takes Over Saxo Australia, Plans Rebranding and Growth

DMA acquires 80.1% of Saxo Australia, while Saxo Bank keeps a 19.9% stake. DMA plans to rebrand as it expands in Australia. The deal closes in late 2025.

Key Points:

• DMA acquires 80.1% of Saxo Australia, with Saxo Bank keeping 19.9%. The deal closes in H2 2025.
• Rebranding ahead, but staff and services remain unchanged.

In a significant move within the financial services sector, Johannesburg-based technology provider DMA has announced the acquisition of an 80.1% stake in Saxo Australia, the Australian division of Denmark’s Saxo Bank. The transaction, unveiled today, will see Saxo Bank retaining a 19.9% share in its Australian operations. Saxo and DMA plan to complete the deal in the latter half of 2025, though they have not disclosed the financial specifics.

DMA Takes Over Saxo Australia, Plans Rebranding and Growth

This acquisition aligns with Saxo Bank‘s broader strategy to reassess its presence in the Asia-Pacific region, aiming to bolster growth. Concurrently, DMA is poised to introduce its suite of services to the Australian market. Richard North, CEO of DMA, emphasized the mutual benefits of the partnership, stating, “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.”

During the transition, Saxo Australia will maintain its current branding, with plans for rebranding under DMA’s direction. The existing team, including CEO Adam Smith, will remain in place to ensure service continuity. Smith reassured clients, noting, “The clients of Saxo Australia will notice no disruption in service, product range, or platform access. We are very pleased to partner with DMA and believe this will be a game changer for Australian clients.”

This development occurs amidst Saxo Bank‘s ongoing efforts to explore potential buyers following an unsuccessful attempt to go public. Several parties have reportedly shown interest in the Danish bank, though it has not confirmed any definitive agreements. Admirals recently divested its Australian business to an undisclosed buyer in a related industry move. The proprietary trading firm FTMO acquired OANDA, signaling a consolidation trend in retail.

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