Saxo Bank not to renew sponsorship agreement with Tinkoff Sport at the end of the season
Saxo Bank, the online multi-asset trading and investment specialist, today announces that it has decided it will not renew the sponsorship of the Tinkoff-Saxo professional cycling team for another season.
Lars Seier Christensen and Kim Fournais, co-CEOs and co-Founders, Saxo Bank, said:
“It has been a privilege working with the team over the past eight seasons and we are extremely proud of the numerous successes we have achieved together during this time. We would like to thank both the current team as well as the heroes from the past, from Bjarne Riis over Alberto Contador, Peter Sagan, the Schleck Brothers, Fabian Cancellara, Carlos Sastre to Matti Breschel, Chris Anker Sørensen and all the other riders whose passion and integrity have boosted the teams and our own brand as a sponsor both in Denmark as well as globally”
“We would especially like to thank Oleg Tinkov, the team’s current owner, and the management of Team Tinkoff-Saxo for the partnership. We look forward to finishing the season in style together as cycling will always have a special place in our hearts and we wish the team continued success”.
Supporting high performance sports from a business perspective continues to be an important feature of the bank’s engagement with its clients and community. The initiative SaxoSport, where clients and prospective clients engage in networks focused on high performance sports, recently had its first endeavour – Ride Like A Pro – where the selected participants lived and trained like cycling professionals and finished the journey with riding a stage of the Vuelta Espana.
“Sponsoring a cycling team has played a key part in building brand awareness at a time of rapid build-out of our international business which todays includes 26 offices around the world. Going forward Saxo Bank will continue to be a strong supporter of high performance sports and will be looking further into opportunities that enable us to sponsor strong individuals across various sports and regional interest. As always any decision regarding potential sponsorships will depend on business potential, results and value of branding,” said Christensen and Fournais.
Saxo Bank Group (Saxo) is a leading Fintech specialist focused on multi-asset trading and investment and delivering ‘Banking-as-a-Service’ to wholesale clients.
For 25 years, Saxo’s mission has been to democratize investment and trading, enabling clients by facilitating their seamless access to global capital markets through technology and expertise.
As a fully licensed and regulated bank, Saxo enables its direct clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, supporting the full value chain delivering Banking-as-a-Service (BaaS).
Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.
Founded in 1992 and launching its first online trading platform in 1998, Saxo Bank was a Fintech even before the term was created. Headquartered in Copenhagen Saxo today employs more than 1500 people in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Hong Kong and Tokyo.