Saxo Bank’s Australian division is set to undergo a major brand transformation next week. Starting August 11, 2025, the company will officially operate under its new name: Totality, marking a significant step under its new ownership.
In a LinkedIn announcement, the company reassured clients, stating, “Our name and look may be evolving, but everything you depend on remains unchanged — from our globally recognized trading platform and extensive market access to our competitive pricing and personalized support.”
From Saxo to Totality: A Strategic Transition
Earlier this year, Johannesburg-based DMA, a technology solutions provider for financial advisers and wealth managers, acquired a controlling interest in Saxo Australia. DMA now holds 80.1% of the Australian entity, with Denmark-headquartered Saxo Bank retaining a 19.9% minority stake.
This strategic change aligns with Saxo Bank’s efforts to reevaluate and streamline its operations in the Asia-Pacific region. For DMA, it’s a gateway to introduce its services to the Australian market.
Despite the upcoming rebrand, clients will continue to trade via Saxo’s infrastructure. Leadership remains steady as well, with CEO Adam Smith and the current team staying on board under the new identity.
Saxo Bank Undergoes Ownership Change
Just a month after the Australian deal, Saxo Bank itself entered a new chapter. Swiss private banking group J. Safra Sarasin agreed to acquire a 70% stake in Saxo Bank for approximately €1.1 billion (US$1.19 billion). This transaction, still pending closure, values the firm at around €1.6 billion.
As part of this acquisition, Sarasin will take over the 19.8% share held by Finnish investment company Mandatum, along with the 49.9% stake previously owned by China’s Geely Group. Saxo Bank’s founder and current CEO, Kim Fournais, will retain his 28% ownership and continue to lead the company.
This sale follows Saxo’s earlier, unsuccessful attempt to go public via a SPAC (Special Purpose Acquisition Company) in 2022, a plan that was eventually scrapped due to unfavorable market conditions.