Bank J. Safra Sarasin is a global private bank and wealth management institution with a heritage dating back to 1841.
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This page will explore what is J. Safra Sarasin, what it does, and whether its private banking and offshore asset management services work for your financial needs.
What is J. Safra Sarasin?
It is part of the J. Safra Group and operates through a multigenerational family ownership structure that emphasizes stability, conservative growth, and long-term client relationships.
Bank J. Safra Sarasin is headquartered in Basel, Switzerland, with 28 locations worldwide across Europe, Asia, the Middle East, and Latin America.
The bank offers personalized wealth management services, catering to private and institutional clients. Key services include:
- Wealth Management: Discretionary portfolio management, investment advisory, and custody services.
- External Asset Managers: Tailored partnerships with external financial advisors, asset, and wealth managers to deliver personalized client solutions.
- Asset Management: Focused on long-term performance through portfolio management, sustainability research, and fund management.
- Trading and Advisory: 24-hour global trading services and investment consulting supported by access to key financial markets.
Is J. Safra Sarasin a good bank?
The Group’s origins has a long history of success, dating back to 1841, when the Safra family established Safra Frères & Cie in Aleppo, Syria, financing trade along key routes between Europe, Persia, and Asia.
The 21st century saw further expansion through strategic acquisitions and mergers. In 2011, the Safra Group acquired a majority shareholding in Bank Sarasin, leading to the 2013 merger to form Bank J. Safra Sarasin.
Significant acquisitions followed, including Morgan Stanley’s Private Banking business in Switzerland in 2014 and Credit Suisse’s subsidiaries in Gibraltar and Monaco between 2016 and 2017.
In 2021, the Group strengthened its presence in Asia by acquiring Bank of Montreal’s Private Banking businesses in Hong Kong and Singapore.
Recent growth has been focused on Europe, with new offices opening in Madrid, Milan, Paris, and Baden between 2022 and 2023.
As of the end of 2023, the Group reported CHF 204.3 billion in assets under management (AuM), including CHF 38.2 billion in sustainable assets.
The Group’s total balance sheet stood at CHF 42.5 billion, with equity amounting to CHF 5.8 billion. It maintained a strong Common Equity Tier 1 (CET1) ratio of 47.0%.
Operating income for the year reached CHF 1.7 billion, while group profit totaled CHF 470.3 million.
The Group employed 2,503 full-time staff and recorded a cost-to-income ratio of 46.2%, reflecting its commitment to financial stability and operational efficiency.
Who owns J. Safra Sarasin?
While the bank’s ownership is not public, its governance structure includes two boards:
- J. Safra Sarasin Holding Ltd. chaired by Jacob J. Safra with independent members.
- Bank J. Safra Sarasin Ltd. chaired by Juerg Haller, with other members including Jacob J. Safra and independent directors.
The Group Executive Board oversees the bank’s operations, comprising senior leaders such as Daniel Belfer and Oliver Cartade.
J. Safra Sarasin Locations
Switzerland
- Basel
Elisabethenstrasse 62, Postfach, 4002 Basel - Geneva
Quai de l’Ile 3, Case Postale, 1211 Genève 11 - Zurich
Bleicherweg 1 / Paradeplatz, Postfach, 8022 Zürich
Europe
- Amsterdam, Netherlands
Rembrandt Toren, 22e verdieping, Amstelplein 1, 1096 HA Amsterdam - Frankfurt, Germany
Kirchnerstraße 6–8, 60311 Frankfurt am Main - Guernsey
P.O. Box 348, 1st Floor, Frances House, Sir William Place, St. Peter Port, Guernsey GY1 3UY - London, United Kingdom
47 Berkeley Square, London W1J 5AU - Luxembourg
17 – 21, Boulevard Joseph II, 1840 Luxembourg - Paris, France
75 Rue du Faubourg Saint-Honoré, 75008 Paris
Middle East
- Dubai, UAE
Burj Daman, Level 12, P.O. Box 506774, Dubai International Financial Centre - Tel Aviv, Israel
Sarona Azrieli Tower, Derech Menachem Begin 121–123, 40th Floor
Americas
- Bahamas
Lyford Financial Centre, Building 2 – Western Road, P.O. Box CB-10988 – Lyford Cay, Nassau - Mexico
Joint Representative Office
Edificio Forum, Andrés Bello 10, Piso 19, Polanco, 11520 Ciudad de México
Asia
- Hong Kong
40/F Edinburgh Tower, The Landmark, 15 Queen’s Road Central, Hong Kong - Singapore
8 Marina View, #25-01 Asia Square Tower 1, Singapore 018960
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