J. Safra Sarasin Acquires 70% Stake in Saxo Bank for €1.1 Billion

J. Safra Sarasin Group, a well-known Swiss private bank, has taken a big step by buying about 70% of Saxo Bank, a top fintech company focused on online trading, from Geely Financials Denmark A/S and Mandatum Group. This move, announced today, shows J. Safra Sarasin's dedication to blending new technology with its strong wealth management skills to create a major player in the financial world. Saxo Bank will stay independent, with its founder and CEO, Kim Fournais, keeping a 28% share and continuing to lead, ensuring things run smoothly.

This deal is a key moment for both companies. J. Safra Sarasin, with 180 years of history, manages $220 billion in client assets and operates in over 30 locations worldwide. By acquiring Saxo Bank, a Copenhagen-based fintech started in 1992, it boosts its ability to offer fresh financial tools. Saxo's top-notch digital trading platforms, used by clients and institutions in many countries, pair well with J. Safra Sarasin's personalized wealth and asset management services. Together, they plan to transform how clients experience wealth management and online investing.

For J. Safra Sarasin, this purchase strengthens its position in the market. The bank aims to use Saxo's advanced tech to improve its wealth management offerings, setting a new bar for innovation. Jacob J. Safra, the group's chairman, highlighted the deal's importance, saying, “This step opens new doors for growth and shows our focus on bold ideas and client success. By bringing Saxo Bank into our family, we're building the future of financial services with a focus on lasting value.”

Saxo Bank, known for making global markets easy to access, gains a strong ally in J. Safra Sarasin. With over 2,300 employees in financial hubs like London, Singapore, and Tokyo, Saxo has earned a name for providing professional tools to traders and investors. Its Banking-as-a-Service (BaaS) model supports over 150 institutional partners, helping them improve their investment options. Partnering with J. Safra Sarasin gives Saxo the financial backing and global reach to grow faster and expand its products, especially in sustainable investing.

Kim Fournais, Saxo's CEO, shared his excitement, saying, “This is a huge moment for Saxo. J. Safra Sarasin's long history and vision make it the perfect partner to help us empower curious investors. I'm thankful for Geely and Mandatum's support over the years and thrilled about what this new chapter means for our clients, partners, and team.”

The deal also boosts Saxo's work with institutional clients, like banks, family offices, and asset managers. By tapping into J. Safra Sarasin's expertise in sustainability and global network, Saxo plans to strengthen its BaaS partnerships and offer new solutions to clients. Daniel Belfer, CEO of J. Safra Sarasin Group, noted the perfect match, saying, “This deal fits our goal of driving innovation while keeping excellence in our core services. We're eager to welcome Saxo's clients and partners into our group.”

About J. Safra Sarasin Group

The J. Safra Group, managing $340 billion in assets, includes J. Safra Sarasin, Banco Safra in Brazil, and Safra National Bank of New York, plus investments in real estate and agriculture. With over 200 locations worldwide, it adds value to its companies, including famous properties like New York's 660 Madison Avenue and London's Gherkin Building. This deal expands its financial services, cementing its role as an innovative leader.

About Saxo Bank

For Saxo Bank, this partnership is a chance to grow while continuing to innovate. Since launching one of Europe's first online trading platforms in 1998, Saxo has focused on accessibility and tech. Fully licensed under the Danish FSA and other authorities, it ensures compliance while prioritizing client satisfaction through technology. Teaming up with J. Safra Sarasin will help Saxo improve its platforms and reach new markets, especially emerging ones.

The deal, pending approval from regulators like FINMA and the Danish FSA, should be finalized in the coming months. Both companies are committed to a smooth transition, keeping things steady for clients and partners. As the financial world changes, this partnership positions J. Safra Sarasin and Saxo Bank to lead with innovation, stability, and client-focused solutions.

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Conclusion

This deal reflects a growing trend in finance, where traditional banks team up with fintech companies to stay ahead. By combining J. Safra Sarasin's experience with Saxo's tech skills, the partnership is set to deliver unmatched value to clients globally. Moving forward, their shared commitment to excellence and sustainability will shape their work to redefine wealth management and online investing.