J. Safra Sarasin Group takes majority stake in Saxo
Daniel Belfer, CEO of J. Safra Sarasin Group en Kim Fournais, CEO and Founder of Saxo Bank, have announced that J. Safra Sarasin Group will acquire a majority stake in Saxo Bank. The transaction aims to enhance the long-term global potential of both institutions.
J. Safra Sarasin Group and Saxo Bank announce today the signing of a strategic acquisition by J. Safra Sarasin of approximately 70% of Saxo Bank, 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. 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.
According to J. Safra Sarasin Group, Saxo Bank’s expertise in digital investments and trading platforms perfectly complements J. Safra Sarasin’s wealth and asset management solutions. J. Safra Sarasin plans to integrate Saxo’s technology platform.