Bank Jacob Safra (Suisse) AG was a full-service commercial banking institution headquartered in

Geneva Geneva ( , ; ) ; ; . is the List of cities in Switzerland, second-most populous city in Switzerland and the most populous in French-speaking Romandy. Situated in the southwest of the country, where the Rhône exits Lake Geneva, it is the ca ...

Switzerland Switzerland, officially the Swiss Confederation, is a landlocked country located in west-central Europe. It is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland ...

. As part of the

Safra Group The J. Safra Group is a conglomerate comprising an international network of companies controlled by the Vicky Safra family, comprising banking and financial institutions and industrial operations. It is present in the United States, Europe, th ...

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.

Services

Apart from Geneva, Bank Jacob Safra (Suisse) AG was present in

Zürich Zurich (; ) is the list of cities in Switzerland, largest city in Switzerland and the capital of the canton of Zurich. It is in north-central Switzerland, at the northwestern tip of Lake Zurich. , the municipality had 448,664 inhabitants. The ...

Lugano Lugano ( , , ; ) is a city and municipality within the Lugano District in the canton of Ticino, Switzerland. It is the largest city in both Ticino and the Italian-speaking region of southern Switzerland. Lugano has a population () of , and an u ...

Gibraltar Gibraltar ( , ) is a British Overseas Territories, British Overseas Territory and British overseas cities, city located at the southern tip of the Iberian Peninsula, on the Bay of Gibraltar, near the exit of the Mediterranean Sea into the A ...

, and

Monaco Monaco, officially the Principality of Monaco, is a Sovereign state, sovereign city-state and European microstates, microstate on the French Riviera a few kilometres west of the Regions of Italy, Italian region of Liguria, in Western Europe, ...

. The majority of its operations consisted of financial services and private wealth management. In addition the bank also offered

brokerage A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neith ...

services, bond trading,

lease A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

financing, and correspondent banking.

History

Named after Jacob Safra, the patriarch, the bank started its operations through the acquisition of Uto Bank AG (Zürich) in June 2000. It grew to 15 billion CHF of

assets under management In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...

in less than 6 years. 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. In 2013, Safra Group acquired Bank Sarasin & Cie, combining the two companies to become Bank J. Safra Sarasin.

References

Banks of Switzerland Safra family Companies based in Geneva {{Switzerland-bank-stub

Services

History

See also

References