11:00 - 11.03.2025

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March 11, Fineko/abc.az. Swiss financial company J. Safra Sarasin is buying about 70% of Danish Saxo Bank for 1.12 billion euros.

According to Saxo Bank, J. Safra Sarasin acquires shares of Geely Financials Denmark A/S, a division of China’s Zhejiang Geely Holding Group Co., as well as Finland’s financial company Mandatum Group.

Geely's share in Saxo Bank was 49.9%, and Mandatum's share was 19.8%.

Saxo Bank will continue to operate as an independent organization, and its founder Kim Fournet will retain approximately a 28% stake in it and the post of CEO, the financial Institute says.

J. Safra Sarasin notes that the deal creates new growth opportunities for it and increases its competitive advantages.

The Swiss financial company plans to integrate the Saxo Bank technology platform, as well as expand financial technology partnerships with banks, corporations, family offices, and management companies.

J. Safra Sarasin manages $247 billion in client assets, while Saxo Bank manages $118 billion.