Bank Jacob Safra Switzerland
Bank Jacob Safra (Suisse) AG was a full-service commercial banking institution headquartered in Geneva, Switzerland. As part of the Safra Group of financial institutions, in 2013, it merged with Bank Sarasin & Cie, when that bank was purchased by the Safra Group, with the combined entity being named J. Safra Sarasin.[1]
| Type | AG |
|---|---|
| Industry | Banking |
| Founded | 2000 |
| Fate | merged with Bank Sarasin (2013) |
| Successor | J. Safra Sarasin |
| Headquarters | Geneva, Switzerland |
Key people | Joseph Safra (Chairman) |
| Products | Financial services |
Number of employees | 250 |
| Parent | Safra Group |
| Website | www.jsafra.com |
Services
Apart from Geneva, Bank Jacob Safra (Suisse) AG was present in Zurich, Lugano, Gibraltar, and Monaco. The majority of its operations consisted of financial services and private wealth management. In addition the bank also offered brokerage services, bond trading, lease financing, and correspondent banking.
History
Named after Jacob Safra, the patriarch, the bank started its operations through the acquisition of Uto Bank AG (Zurich) in June 2000. It grew to 15 billion CHF of assets under management in less than 6 years.[2][3]
In February 2006, Bank Jacob Safra expanded its operations in Monaco through the acquisition of the Monaco operations of Banca Gottardo the Banque du Gothard (Monaco) bringing it to 17.2 billion CHF in assets under management.[4]
In 2013, Safra Group acquired Bank Sarasin & Cie, combining the two companies to become Bank J. Safra Sarasin.
References
- "Press release" (PDF). 2013. Retrieved 2020-10-13.
- "Bank Jacob Safra Establishes Presence in Switzerland". News Release. PR Newswire Europe Ltd. 2000-06-20.
- "Safra clan take over Swiss bank". SWI swissinfo.ch.
- "Banque Jacob Safra (Suisse) to Acquire Banque du Gothard (Monaco) from Banca del Gottardo. – Swiss Life Group". Archived from the original on 2017-08-05. Retrieved 2017-08-05.