J. Safra Sarasin Group Acquires 71% Stake in Saxo Bank

J. Safra Sarasin Group has successfully acquired a 71% majority stake in Saxo Bank, a prominent international FinTech bank known for serving investors, traders, and institutional partners. The acquisition, which was announced on March 2, 2026, marks a significant milestone for both entities, enhancing their global capabilities and strategic growth.

The transaction received all necessary regulatory approvals, including from the Swiss Financial Market Supervisory Authority (FINMA) and the Danish Financial Supervisory Authority (DFSA). J. Safra Sarasin Group acquired the stake from Geely Financials Denmark A/S, Mandatum Group, and other minority shareholders, while Kim Fournais, the founder of Saxo Bank, retains approximately 28% ownership.

With combined client assets exceeding USD 460 billion, this acquisition aligns with J. Safra Sarasin Group’s strategy of pursuing selective acquisitions in innovative financial services. The integration of Saxo Bank’s advanced digital capabilities with J. Safra Sarasin’s established private banking and wealth management services positions the group uniquely in the global market.

Kim Fournais will transition from CEO to Chairman of the Board of Saxo Bank, while Daniel Belfer, previously CEO of Bank J. Safra Sarasin, will take over as CEO of Saxo Bank. Belfer brings nearly three decades of experience in the financial sector, with 26 years dedicated to the J. Safra Sarasin Group.

Elie Sassoon has been appointed as the new CEO of Bank J. Safra Sarasin, succeeding Belfer. The leadership changes at Saxo Bank also include Henrik Juel Villberg as Deputy CEO and Julio Carloto as Chief Risk and Compliance Officer, both of whom will join the Board of Management.

This acquisition not only strengthens J. Safra Sarasin’s position in the wealth management and fintech sectors but also enhances Saxo Bank’s foundation for sustained growth. The integration aims to leverage synergies such as cross-selling wealth management services and streamlining operations through shared technology infrastructure.

Looking ahead, the combined entity is poised to redefine the client experience in financial services, with a focus on innovation and stability. As stated by Kim Fournais, “We are excited by what the future will bring. Together, we will build on Saxo Bank’s pioneering spirit with the strength and long-term perspective of J. Safra Sarasin.”