Bank Jacob Safra Switzerland

Last updated
Bank Jacob Safra Switzerland
Company type AG
Industry Banking
Founded2000
Fatemerged with Bank Sarasin (2013)
Successor J. Safra Sarasin
Headquarters Geneva, Switzerland
Key people
Joseph Safra (Chairman)
Products Financial services
Number of employees
250
Parent Safra Group
Website www.jsafra.com

Bank Jacob Safra (Suisse) AG was a full-service commercial banking institution headquartered in Geneva, Switzerland. As 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]

Contents

Services

Apart from Geneva, Bank Jacob Safra (Suisse) AG was present in Zürich, Lugano, Gibraltar, and Monaco. The majority of its operations consisted of financial services and private wealth management. In addition the bank also offered 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 (Zürich) 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.[ citation needed ]

See also

Related Research Articles

Banco Ambrosiano was an Italian bank that was established in 1896 and collapsed in 1982. At the centre of the bank's failure was its chairman, Roberto Calvi, and his membership of the illegal former Masonic Lodge Propaganda Due. The Vatican-based Institute for the Works of Religion, commonly known as the Vatican Bank, was Banco Ambrosiano's main shareholder. The Vatican Bank was accused of funnelling covert United States funds to the Polish trade union Solidarity and to the Nicaraguan Contras through Banco Ambrosiano.

<span class="mw-page-title-main">Union Bank of Switzerland</span> Swiss investment bank and financial services company

Union Bank of Switzerland (UBS) was a Swiss investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998 to become UBS. This merger formed what was then the largest bank in Europe and the second largest bank in the world.

Swiss Bank Corporation was a Swiss investment bank and financial services company located in Switzerland. Prior to its merger, the bank was the third largest in Switzerland, with over CHF 300 billion of assets and CHF 11.7 billion of equity.

<span class="mw-page-title-main">Banco Safra</span> Brazilian financial services company

Banco Safra is a Brazilian financial services company headquartered in São Paulo, Brazil. It is the seventh largest banking institution in Brazil, and the nineteenth largest in Latin America. It provides services in investment banking, private banking, asset management, and retail banking through its neobank AgZero. The bank is part of the financial holding company Safra Group.

<span class="mw-page-title-main">Swiss Life</span> Life insurance company based in Zurich, Switzerland

The Swiss Life Group is the largest life insurance company of Switzerland and one of Europe’s leading comprehensive life and pensions and financial services providers, with approximately CHF 276.3 bn of assets under management. Founded in 1857 in Zurich as the Schweizerische Lebensversicherungs und Rentenanstalt cooperative, the company entered the Swiss stock market in 1997 and adopted its current name in 2002. In 2022 the group declared an adjusted profit from operations of CHF 2.06 billion, a 17% decrease compared to the previous year. Net profit increased by 16% to CHF 1.46 billion. Swiss Life is one of the twenty companies listed under the Swiss Market Index, as SLHN.

The J.Safra Group is 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, the Middle East, Latin America, Asia and the Caribbean.

<span class="mw-page-title-main">Banque cantonale de Genève</span> Swiss cantonal bank in Geneva

Banque Cantonale de Genève (BCGE) is a limited company established under Swiss public law, resulting from the merger of the Caisse d'Épargne de la République et Canton de Genève and the Banque Hypothécaire du Canton de Genève. It is one of the 24 cantonal banks.

The Pictet Group, known as Pictet, is a Swiss multinational private bank and financial services company founded in Switzerland. Headquartered in Geneva, it is one of the largest Swiss banks and primarily offers services in wealth management, asset management, and asset servicing, to private clients and institutions.

<span class="mw-page-title-main">Union Bancaire Privée</span> Private bank and finance firm in Switzerland

Union Bancaire Privée is a private bank and wealth management firm headquartered in Geneva. UBP is one of the largest private banks in Switzerland, and serves private and institutional clients. The bank was founded in 1969 by Edgar de Picciotto.

HSBC Guyerzeller Bank AG, a member of the HSBC Group, was a Swiss private bank advising individuals and families in all matters of wealth management, investment advice and trust services. Its head office was in Zürich, and it had two branches in Geneva, as well as representative offices in Hong Kong and Istanbul. It had 360 employees and about CHF 29 billion in assets under management. It is now subsumed under HSBC Private Bank.

<span class="mw-page-title-main">UBS</span> Multinational investment bank headquartered in Switzerland

UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. Headquartered in Zürich, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world. UBS client services are known for their strict bank–client confidentiality and culture of banking secrecy. Because of the bank's large positions in the Americas, EMEA, and Asia Pacific markets, the Financial Stability Board considers it a global systemically important bank.

Clariden Leu was a Swiss private bank based in Zurich and Geneva Switzerland founded in 2007 by Clariden president Alex Hoffmann and Credit Suisse Group.

<span class="mw-page-title-main">Bank Lombard Odier & Co</span> Swiss Private Bank

The Lombard Odier Group is an independent Swiss banking group based in Geneva. Its operations are organised into three divisions: private banking, asset management, and IT and back and middle office services for other financial institutions. In 2022, the bank had total client assets of CHF 300 billion, which makes it one of the biggest players in the Swiss private banking sector.

<span class="mw-page-title-main">Vontobel</span>

Vontobel Holding AG is a Swiss private banking and investment management group headquartered in Zurich. Established in 1924, as of August 2021, Vontobel has over 2,000 employees across 26 worldwide locations. Vontobel group's core businesses are Wealth Management, Asset Management and Digital Investing, catering to wealthy private clients as well as institutional investors. Among the top tier Swiss banks, Vontobel holds around $300 billion of client assets.

Hyposwiss Private Bank Ltd was a Swiss private bank, located in Zurich, that closed in 2013.

<span class="mw-page-title-main">J. Safra Sarasin</span> Swiss private bank

Bank J. Safra Sarasin Ltd is a Swiss private bank, founded in 1841 and headquartered in Basel, Switzerland. It is currently owned by the Brazilian J. Safra Group, and was formed in its present state in 2013, when Safra Group acquired Bank Sarasin & Co. Ltd, merging it with its Bank Jacob Safra Switzerland subsidiary.

REYL Intesa Sanpaolo, REYL & Cie according to its legal name, is a financial services company founded in Geneva in 1973 by Dominique REYL.

References

  1. "Press release" (PDF). 2013. Retrieved 2020-10-13.
  2. "Bank Jacob Safra Establishes Presence in Switzerland". News Release. PR Newswire Europe Ltd. 2000-06-20.
  3. "Safra clan take over Swiss bank". SWI swissinfo.ch.
  4. "Banque Jacob Safra (Suisse) to Acquire Banque du Gothard (Monaco) from Banca del Gottardo. – Swiss Life Group". Archived from the original on 2017-08-05. Retrieved 2017-08-05.