Bank Sarasin, Safra Group Merged Entity Unveils Its New Name In Asia

Vanessa Doctor

9 July 2013

Bank J Safra Sarasin, the resulting entity from the merger of Bank Sarasin and Bank J Safra, has begun adopting its name in Asia.

From 1 July 2013, the bank carried its new name, which combines the private banking heritages of Safra Group, the South American private banking firm, and Bank Sarasin, the Swiss private bank. The two firms announced plans to merge in January this year, which resulted in a massive reshuffling of senior executives to eventually have Edmond Michaan as chief executive and Eric Sarasin as deputy CEO. The deal was agreed by the boards of both parties in May.

In line with the new name is a new logo, which features the brand marks of the merged entities. The new company will continue to provide private banking, asset management and related specialist products for which both firms are known. The name Bank J Safra Sarasin was first adopted in 10 June 2013 at the bank's headquarters in Basel, Switzerland. Its offices in Asia are located in Hong Kong and Singapore.

J Safra Sarasin Group records some SFr130 billion ($135 billion) in total client assets as of 31 December 2012. Safra banks are in around 156 locations worldwide.