J Safra Sarasin to Acquire 70% Stake in Saxo Bank

Swiss private bank J Safra Sarasin Group, a global leader in private banking and wealth management, has announced that it will acquire a majority stake of 70% in Denmark’s Saxo Bank, a Leading International FinTech Bank for Investors, Traders, and Institutional (BaaS) partners.

The 70% stake of Saxo Bank was previously held by Geely Financials Denmark A/S, a subsidiary of Zhejiang Geely Holding Group Co. Ltd, and Mandatum Group. This transaction highlights J Safra Sarasin Group’s strategy of undertaking acquisitions in innovative and diversified financial businesses, and further enhances the Group’s successful growth and international footprint in financial services.

Saxo Bank will continue to operate as a standalone entity, with its founder and CEO, Kim Fournais, continuing as CEO and retaining approximately 28% ownership, underscoring the stability and continuity of the Business, and reinforcing its long-term vision of creating value for all clients, partners and employees.

This acquisition is in line with J Safra Sarasin Group’s dedication to building its platform of longterm value creation for its clients. Saxo Bank’s proven expertise in digital investments and trading platforms perfectly complements J Safra Sarasin’s heritage of bespoke wealth and asset management solutions.

J Safra Sarasin and Saxo Bank are united by shared values of excellence, stability, and client centricity. J Safra Sarasin plans to integrate Saxo’s technology platform, establishing a new frontier in wealth management and setting a benchmark for innovation and client experience in the industry.

For Saxo Bank, joining J Safra Sarasin Group represents an exceptional opportunity to strengthen its foundation for continued future growth, delivering award-winning platforms and innovative products to its clients and partners.

J Safra Sarasin Group’s financial stability, global presence, and expertise in sustainability positions Saxo Bank to expand its offering and accelerate its mission to deliver cutting-edge platforms and services to clients and partners, while continuing to pioneer new standards for client experience in online investments and trading.

With the support of J Safra Sarasin, Saxo will also strengthen its trusted long-term BaaS partnerships with banks, corporates, family offices, asset managers, and independent wealth managers within its institutional client segment.

New Opportunities

J Safra Sarasin Group Chairman Jacob J Safra said that this acquisition represents a significant milestone for his company and creates new opportunities for expansion and further increases its competitive edge, while reflecting the unwavering multi-generational commitment to entrepreneurship, sustainability and client success.

Saxo Bank CEO and Founder Kim Fournais said that the deqal marked an inflection point for the all stakeholders and Saxo welcomes J Safra Sarasin as new majority shareholder, a family-owned banking group with over 180-year heritage and long-term perspective.

“The win-win opportunities which our business models will create are unique, extending to our employees, clients, and partners. I am thankful to Geely and Mandatum for their invaluable support to Saxo since becoming shareholders in late 2018. As we welcome J Safra Sarasin as our new shareholder, we remain committed to our mission of delivering best-in-class investing and trading platforms to get more curious people invested in the world,” he added