J. Safra Sarasin Group acquires majority stake of Saxo Bank
10 March 2025 Switzerland
Image: f11photo/stock.adobe.com
A majority stake of Saxo Bank has been acquired by J. Safra Sarasin Group, a Swiss financial conglomerate.
The acquisition includes the shares previously held by Geely Financial Denmark and Mandatum Group. As a result, J. Safra Sarasin Group says that they now hold a combined 70 per cent ownership in Saxo Bank.
As part of the agreement, the bank will continue operating as a standalone entity, with Kim Fournais remaining on as the CEO.
The acquisition is also said to be in line with the Group's drive to place an international footprint in financial services, with chairman Jacob J. Safra commenting: “This strategic acquisition represents a significant milestone for J. Safra Sarasin. It creates new opportunities for expansion and further increases our competitive edge, while reflecting our multi-generational commitment to entrepreneurship, sustainability and client success.”
Fournais adds: “I feel great pride and comfort knowing that Saxo has found its ideal long-term partner. The win-win opportunities which our business models will create are unique, extending to our employees, clients, and partners.”
The acquisition includes the shares previously held by Geely Financial Denmark and Mandatum Group. As a result, J. Safra Sarasin Group says that they now hold a combined 70 per cent ownership in Saxo Bank.
As part of the agreement, the bank will continue operating as a standalone entity, with Kim Fournais remaining on as the CEO.
The acquisition is also said to be in line with the Group's drive to place an international footprint in financial services, with chairman Jacob J. Safra commenting: “This strategic acquisition represents a significant milestone for J. Safra Sarasin. It creates new opportunities for expansion and further increases our competitive edge, while reflecting our multi-generational commitment to entrepreneurship, sustainability and client success.”
Fournais adds: “I feel great pride and comfort knowing that Saxo has found its ideal long-term partner. The win-win opportunities which our business models will create are unique, extending to our employees, clients, and partners.”
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