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

The latest transaction completes a deal that began in March 2025, when J. Safra Sarasin agreed to acquire more than 70% of Saxo Bank from Geely, Mandatum and other shareholders. At the time, Fournais retained the remaining stake and continued to lead the company.

The stake represents approximately 28.69% of Saxo Holding AG. It follows Bank J. Safra Sarasin's exercise of a call option under a shareholders' agreement between the two parties.

Saxo Bank Keeps Independence Under New Ownership

Once the deal closes, Bank J. Safra Sarasin will own 100% of Saxo Holding AG and, indirectly, Saxo Bank. The company said Saxo Bank will continue to operate as a separate entity while benefiting from the financial backing of the J. Safra Sarasin Group to support future growth.

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Kim Fournais will remain Chairman of the Board of Directors of Saxo Bank after the transaction. The bank said full ownership strengthens its long-term ownership structure while maintaining continuity for clients, partners, and employees.

Jacob J. Safra, Chairman of the J. Safra Sarasin Group, said Fournais had built "an exceptional business" and that the milestone reflects the group's "long-term perspective." He added that the bank is committed to preserving Saxo Bank's strengths while supporting "its next phase of sustainable growth."

J. Safra Sarasin Increases Its Stake in Saxo: Just months after completing its majority acquisition of Saxo Holding, Bank J. Safra Sarasin has moved to acquire the remaining stake held by founder Kim Fournais, making it the sole sharehol... https://t.co/OKxTgl42Mi

— finews.ch (@finews_ch) July 6, 2026

Deal Awaits Regulatory Approval Before Closing

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

Commenting on the transaction, 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 added that he looks forward to continuing to support the company's strategic direction as chairman.

The transaction remains subject to customary regulatory approvals. The financial terms were not disclosed.