Saxo Bank now part of European financial group

The acquisition positions the group to expand its offering.

J. Safra Sarasin Group, a Swiss finance conglomerate, has acquired a 70% stake in Saxo Bank previously held by Geely Financials Denmark A/S.

The acquisition positions Saxo Bank to expand its offering and accelerate its mission to deliver platforms and services whilst continuing to pioneer new standards for client experience in online investments and trading.

With the support of J. Safra Sarasin, Saxo will also strengthen its trusted long-term BaaS partnerships with banks, corporates, family offices, asset managers, and independent wealth managers within its institutional client segment.

The bank will continue to operate as a standalone entity, with its founder and chief executive officer, Kim Fournais, continuing his role and retaining approximately 28% ownership.

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