Bank J. Safra Sarasin takes a strategic step in Spain

The Swiss-Brazilian private bank J. Safra Sarasin is expanding on the Iberian Peninsula. The focus is not only on the core business with wealthy private customers.

The private bank J. Safra Sarasin has opened a branch in the Spanish capital Madrid. The move is part of the strategy to expand activities in core European markets, the money house announced on Monday .

The branch in Madrid, which is administered via the Luxembourg subsidiary and resides at the posh address on Paseo de la Castellana 13, is aimed at private banking customers based in Spain, but also at institutional customers, it said. According to the communiqué, the new company representation offers all Mifid-regulated investment services.

Start at the beginning of the year

The branch was registered with the Spanish central bank Banco de España and the Spanish stock exchange supervisory authority CNMV and has been operational since the beginning of January 2022. The branch is managed by Francisco Gomez-Trenor , who reports to Jules Moor , CEO of Banque J. Safra Sarasin in Luxembourg.