Saxo Bank CEO on the “seismic shift” in ASX retail investors

In case you needed any more evidence of the rising influence of retail investors, Saxo Bank Group’s 2020 results provide it.

In 2020 Saxo reported it brought on a record 238,000 new active clients globally. This brought its total number of active clients to 660,000, also a record for the company.

Huge Aussie retail investor growth

Adam Smith, CEO Saxo Capital Markets Australia, told the Motley Fool that Saxo’s Australian trading client base had also seen phenomenal growth, up 56% in 2020. And the number of new clients who placed their first trade with Saxo in 2020 increased 114%.

Kim Fournais, CEO and founder of Saxo Bank, cited, “a…