Saxo Bank has finalised its friendly take-over of Synthesis Bank; with the approval of the Swiss and Danish banking authorities, Synthesis has officially become Saxo Bank (Switzerland) headquartered in Geneva and with an office in Zürich. The acquisition marks a new step in the global expansion of Saxo Bank, a Danish online investment bank. Saxo has more than 100 “white label” partners and customers in 177 countries. Saxo's two chief executives, Kim Fournais and Lars Christensen, welcomed the event in a joint statement. "We see enormous opportunity in this for our existing and new clients and have no doubts that this will enable us to bring even more competitive offerings and also expand our wealth management product range." Soren Mose is the new chief executive at the rebranded bank. Coming from a job as the managing director of Jyske Bank's Swiss subsidiary in Zurich, he hopes Saxo Bank Switzerland will take full advantage of the wealth management opportunities. Charles-Henri Sabet, the former chief executive and the biggest shareholder of Synthesis, is now a member of Saxo Bank's senior management group and the chairman of the board of directors of Saxo Bank Switzerland. He is in charge of the entire group's trading activities and sees potential for some of Saxo Bank's products in the current market conditions.