Saxo Bank is continuing its sponsorship of the Danish pro-cycling team, Riis Cycling, as title sponsor in 2014.

Saxo Bank is continuing its sponsorship of the Danish pro-cycling team, Riis Cycling, as title sponsor in 2014.

The Copenhagen-headquartered trading and investment specialist has stepped up its commitment to the team, securing the team’s continuation for another year.

Saxo Bank also said that it would support Riis Cycling in its search for additional sponsorship, remaining the sole title sponsor of the team until then.

“For Saxo Bank to stay with us and at the same time step up ts commitment to Riis Cycling makes me both proud and grateful. This is certainly evidence of a great long term partnership, and it gives us the space to continue with our team at a high level while we continue to develop our portfolio of partners for next year and after,” said team owner and former Tour de France-winner, Bjarne Riis.

Saxo Bank has partnered with Riis Cycling since 2008, allowing for the team to be known as Team Saxo Bank at major cycling events such as Tour de France and Giro d’Italia, which are eagerly watched by Danes every summer. As such, Saxo Bank’s decision to renew its sponsorship provides good commercial opportunities with its local client base, as well as fulfilling the firm’s genuine wish to support the team.

“In the financial industry, cycling is now more popular than golf. Hedge fund managers, brokers, liquidity providers and traders have taken cycling to a completely new level in recent years. The strategic fit between Saxo Bank and this team has always been a major but even more so today,” said co-chief executives and founders, Kim Fournais and Lars Seier Christensen.

With the likes of Fabian Cancellara and Alberto Condator on the team in recent years, Riis Cycling has had several key wins, including major stages in the Tour de France, Tour de Suisse and Vuelta a España.