J. Safra Sarasin Group said Monday that it has signed a deal to acquire a 70% stake in Saxo Bank.
Safra Sarasin Group to Acquire a Majority Stake in Saxo Bank
The majority stake was previously held by Geely Financials Denmark and Mandatum Group.
Saxo Bank will continue to operate as a standalone entity, with founder and CEO, Kim Fournais, retaining approximately 28% ownership. Fournais will also continue as CEO.
The acquisition is aimed at strengthening both companies, combining J. Safra Sarasin’s wealth management expertise with Saxo Bank’s advanced digital trading and investment platforms.
“This strategic acquisition represents a significant milestone for J. Safra Sarasin,” said Jacob Safra, Chairman of J. Safra Sarasin Group. “It creates new opportunities for expansion and further increases our competitive edge.”
Kim Fournais welcomed the deal, stating that for Saxo, it “marks an inflection point.”
“Saxo proudly welcomes J. Safra Sarasin as new majority shareholder,” he said. “The win-win opportunities which our business models will create are unique, extending to our employees, clients, and partners.”
Safra Sarasin plans to integrate Saxo Bank’s technology platform to enhance its digital wealth management capabilities. The acquisition is expected to accelerate Saxo Bank’s global expansion while reinforcing its existing partnerships with institutional clients.
Both companies see the transaction as a long-term strategic step, leveraging complementary strengths to enhance client offerings and drive innovation in financial services.
