J. Safra Sarasin Group has completed the acquisition of Lombard Odier's private banking business in Gibraltar.
With this acquisition, J. Safra Sarasin continues to expand its position in the private banking business in Gibraltar, an important financial centre where it has a long and successful track record since 2001 and a jurisdiction to which it is highly committed.
The acquisition includes the transfer of clients and their experience relationship managers. It is another step forward in the growth strategy of the group's private banking business.
Jacob J. Safra, chairman of J. Safra Holdings International and vice chairman of J. Safra Sarasin Group, commented: "We have completed another acquisition and welcome the clients of Lombard Odier and their relationship managers in Gibraltar to our Group. We look forward to maintaining these valued and long-standing client relationships at J. Safra Sarasin.
"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. We also thank Lombard Odier for the cooperation and their constructive support since we announced the transaction in April."