J. Safra Sarasin Takes Full Control of Saxo Bank with Purchase of Kim Fournais' Remaining Stake

Bank J. Safra Sarasin has agreed to acquire the remaining indirect stake in Saxo Holding AG held by Saxo Bank founder Kim Fournais, securing full ownership of the online trading and investment platform.

The transaction completes a deal initiated in March 2025, when J. Safra Sarasin agreed to purchase over 70% of Saxo Bank from Geely, Mandatum, and other shareholders. At that time, Fournais retained his stake and continued as CEO.

The stake represents approximately 28.69% of Saxo Holding AG, acquired through the exercise of a call option under the shareholders’ agreement.

Upon closing, Bank J. Safra Sarasin will own 100% of Saxo Holding AG and, indirectly, Saxo Bank. The firm confirmed Saxo Bank will operate as a separate entity while leveraging the financial backing of the J. Safra Sarasin Group to support future growth.

Kim Fournais will remain Chairman of the Board of Directors of Saxo Bank post-transaction. The bank stated that full ownership solidifies its long-term structure while ensuring continuity for clients, partners, and employees.

Jacob J. Safra, Chairman of the J. Safra Sarasin Group, noted that Fournais built “an exceptional business” and that this milestone reflects the group’s “long-term perspective.” He added that the bank aims to preserve Saxo Bank’s strengths while supporting “its next phase of sustainable growth.”

The announcement also indicated that Saxo Bank expects to report its strongest first-half financial performance on record for the six months ending June 30, 2026, driven by growth in client numbers and assets under management.

Commenting on the deal, Fournais said the agreement is “fully aligned with the vision agreed with J. Safra Sarasin” and represents “the next natural step in Saxo's evolution.” He looks forward to continuing to support the strategic direction as chairman.

The transaction is subject to customary regulatory approvals, and financial terms were not disclosed.