Banca Generali SpA's board approved an agreement with Danish trading and investment specialist Saxo Bank A/S for the provision of online trading and digital services to Italian clients.
The partnership entails the establishment of BG SAXO Sim, a new entity that will have its own seven-member board of directors and a steering committee, which will be composed by the two companies' CEOs, CFOs and COOs. BG SAXO Sim is expected to start operations in the second half, subject to approval from the competent supervisory authorities, among others.
The partnership is set for a duration of eight years and may be renewed upon expiry.
