Safra Sarasin to buy 70% stake in Saxo Bank

J. Safra Sarasin Group, an entity engaged successful backstage banking and wealthiness management, has signed an statement to get astir 70% of Saxo Bank.

The transaction is said to beryllium valued astatine astir $1.19bn.

The shares were antecedently held by Geely Financials Denmark, portion of Zhejiang Geely Holding Group, and Mandatum Group.

The acquisition, which volition spot J. Safra Sarasin Group's lawsuit assets summation to $247bn and Saxo Bank's to $118bn, is aimed astatine bolstering the semipermanent imaginable of some institutions.

Saxo Bank CEO and laminitis Kim Fournais said: “For Saxo, our employees, shareholders, clients, and partners, and maine personally, contiguous marks an inflection point.

“I person worked with an outstanding team, focusing connected continuously improving Saxo for the communal payment of each our stakeholders, including clients and partners. roup with implicit 180-year practice and semipermanent perspective.”

Saxo Bank, established successful Copenhagen successful 1992, offers multi-asset trading solutions and serves arsenic a afloat licenced slope nether Danish FSA supervision.

With an precocious unfastened banking exertion (BaaS), Saxo powers implicit 150 fiscal organization partners worldwide.

Saxo Bank volition complement Safra Sarasin's wealthiness absorption solutions.

Saxo Bank's CEO and founder, Kim Fournais, volition proceed to pb the bank, maintaining a 28% ownership.

Saxo Bank volition stay a standalone entity, preserving its marque and operational independence.

J. Safra Sarasin Group president Jacob Safra said: “This strategical acquisition represents a important milestone for J. Safra Sarasin.

“It creates caller opportunities for enlargement and further increases our competitory edge, portion reflecting our unwavering multi-generational committedness to entrepreneurship, sustainability and lawsuit success.”

The transaction awaits support from regulatory bodies, including the Swiss Financial Market Supervisory Authority (FINMA) and the Dubai Financial Services Authority (DFSA).

In October 2024, Saxo Bank introduced a caller concern level done Saxo UK, aimed astatine buy-and-hold and progressive investors successful the UK.

J. Safra Sarasin operates banks successful implicit 30 locations crossed Europe, Asia, the Middle East, Latin America, and the Caribbean.

It manages lawsuit assets totalling CHF224bn ($254.5bn) and employs astir 2,550 people, with stockholders' equity amounting to CHF5.8bn ($6.5bn).

"Safra Sarasin to bargain 70% involvement successful Saxo Bank" was primitively created and published by Private Banker International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.