Swiss private banking group J. Safra Sarasin has announced the completion of its acquisition of Credit Suisse’s presence in Gibraltar, which will now be called Bank JSS Gibraltar Ltd.
With the deal which was announced in March this year, J. Safra Sarasin aims to strengthen its presence in Gibraltar, where it has been operating since 2001.
The new bank will provide wealth management services to both private and institutional clients. The amount of the transaction has not been disclosed.
Oliver Cartade, new member of the board of director at Bank JSS Gibraltar comments on the acquisition: “We very much look forward to welcoming the new clients and colleagues to Bank J Safra Sarasin. This acquisition will enable us to further expand our footprint in Gibraltar.”