Saxo Bank: Strategic Acquisition by J. Safra Sarasin Expands European Presence
Deal News | Mar 11, 2025 | EIN
J. Safra Sarasin Group has announced a strategic acquisition of a 70% stake in Saxo Bank, a prominent Danish financial institution, in a deal valued at approximately 1.1 billion, with Saxo Bank valued at 1.6 billion. This significant transaction aligns with J. Safra Sarasin's growth strategy of bolstering its presence in innovative financial services and expanding its global reach. With Saxo Bank's extensive expertise in digital investment platforms, the merger offers synergies that enhance Safra's wealth management offerings by incorporating Saxo's digital strengths. The acquisition, which marks J. Safra Sarasin's second-largest transaction, promises to maintain Saxo as an independent entity under the continued leadership of Kim Fournais, its founder and CEO, who will retain 28% of ownership. The remaining shares were previously held by Geely Financials Denmark and Mandatum Group. This deal not only broadens Safra's client base but also underscores its commitment to innovation and sustainability in the financial sector. The transaction is pending approvals from Swiss and Danish regulators.
Sectors
- Financial Services
- Fintech
- Private Banking
Geography
- Switzerland – Home to J. Safra Sarasin Group, the acquirer in this strategic transaction.
- Denmark – Location of Saxo Bank, the target company in the acquisition.
Industry
- Financial Services – The acquisition involves two major financial institutions and centers on expanding capabilities in wealth management and digital investment services.
- Fintech – Saxo Bank's expertise in digital trading platforms highlights the importance of fintech in this transaction, aiming to enhance J. Safra Sarasin's technological capabilities.
- Private Banking – J. Safra Sarasin is a key player in private banking, and this acquisition supports its strategy of increasing its footprint in the sector.
Financials
- 1.1 billion – The approximate amount J. Safra Sarasin is paying for the 70% stake in Saxo Bank.
- 1.6 billion – The valuation of Saxo Bank as part of the acquisition deal.
- $118 billion – Assets managed by Saxo Bank.
- $247 billion – Assets managed by J. Safra Sarasin Group.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| J. Safra Sarasin Group | Buyer | Company | A Swiss private banking institution acquiring a substantial stake in Saxo Bank. |
| Saxo Bank | Target | Company | A Danish bank known for its digital investment platforms, being acquired by J. Safra Sarasin. |
| Kim Fournais | CEO | Person | Founder and CEO of Saxo Bank, retaining leadership and 28% ownership post-acquisition. |
| Jacob Safra | Chairman | Person | Chairman of J. Safra Sarasin Group, overseeing the strategic acquisition. |
| Geely Financials Denmark | Seller | Company | A previous shareholder in Saxo Bank, selling their ownership stake. |
| Mandatum Group | Seller | Company | A previous shareholder in Saxo Bank, selling their ownership stake. |