Bank Jacob Safra Switzerland
Bank Jacob Safra (Suisse) AG was a full-service commercial banking institution headquartered in Geneva, Switzerland. It was present in Zurich, Lugano, Gibraltar, and Monaco. The majority of its operations consisted of financial services and private wealth management.
| Type | AG |
|---|---|
| Industry | Banking |
| Fate | merged with Bank Sarasin (2013) |
| Successor | J. Safra Sarasin |
| Founded | 2000 |
| Headquarters | Geneva, Switzerland |
Key people | Joseph Safra (Chairman) |
| Products | Financial services |
Number of employees | 250 |
| Parent | Safra Group |
| Website | www.jsafra.com |
A 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]
Services
In addition to wealth management, the bank also performed 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 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.