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J Safra Sarasin Group Completes Gibraltar Business Purchase
The bank said the acquisition is part of a wider consolidation phase in the Swiss and European private banking sector.
The J Safra Sarasin Group has completed its purchase of Lombard Odier’s private banking business in Gibraltar, having initially announced the transaction in April this year.
"With this acquisition, the J Safra Sarasin Group continues to
expand its leading position in the private banking business in
Gibraltar, an important financial centre where it has [had] a
long and successful track record since 2001 and a jurisdiction to
which it is highly committed," Safra J Sarasin Group said in a
statement today.
“This acquisition is another step forward in the growth strategy
of the group as we continue to play a leading role in the
consolidation of the Swiss and European private banking sector,"
Jacob J Safra, chairman of J Safra Holdings International and
vice chairman of J Safra Sarasin Group, said.
