Bank Jacob Safra Switzerland
Encyclopedia
Bank Jacob Safra AG
is a full-service commercial banking institution headquartered in Geneva, Switzerland
. It is also present in Zurich
, Lugano
, Gibraltar
, and Monaco
. The majority of its operations consist of financial services and private wealth management.
Bank Jacob Safra Switzerland is part of the Safra Group
of financial institutions.
financing, and correspondent banking.
Named after Jacob Safra, the patriarch, the bank started its operations through the acquisition of Uto Bank AG in June 2000. It grew to 15 billion CHF of assets under management
in less than 6 years.
In February 2006, Bank Jacob Safra expanded its operations in Monaco through the acquisition of Banque du Gothard (Monaco) bringing it to 17.2 billion CHF in assets under management.
Aktiengesellschaft
Aktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e. owned by shareholders, and may be traded on a stock market. The term is used in Germany, Austria and Switzerland...
is a full-service commercial banking institution headquartered in Geneva, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
. It is also present in Zurich
Zürich
Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...
, Lugano
Lugano
Lugano is a city of inhabitants in the city proper and a total of over 145,000 people in the agglomeration/city region, in the south of Switzerland, in the Italian-speaking canton of Ticino, which borders Italy...
, Gibraltar
Gibraltar
Gibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. A peninsula with an area of , it has a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region...
, and Monaco
Monaco
Monaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...
. The majority of its operations consist of financial services and private wealth management.
Bank Jacob Safra Switzerland is part of the Safra Group
Safra Group
The Safra Group is an international network of privately held companies controlled by the Safra family, comprising a banking and financial institutions conglomerate, industrial operations and telecommunications. It is present in the US, Europe, the Middle East, Latin America and the Caribbean.The...
of financial institutions.
Services
In addition to wealth management, the bank also performs brokerage services, bond trading, leaseLease
A lease is a contractual arrangement calling for the lessee to pay the lessor for use of an asset. A rental agreement is a lease in which the asset is tangible property...
financing, and correspondent banking.
History
In 1956, Jacob Safra picked Geneva as the headquarters of the family banking enterprise.Named after Jacob Safra, the patriarch, the bank started its operations through the acquisition of Uto Bank AG in June 2000. It grew to 15 billion CHF of assets under management
Assets under management
Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
in less than 6 years.
In February 2006, Bank Jacob Safra expanded its operations in Monaco through the acquisition of Banque du Gothard (Monaco) bringing it to 17.2 billion CHF in assets under management.
See also
- Lebanese JewsHistory of the Jews in LebanonThe history of the Jews in Lebanon deals with the presence of Jews in Lebanon, which stretches back to Biblical times.-Jews in Lebanon today:Lebanese Jews are traditionally a Mizrahi community living mostly in and around Beirut...
- Safra GroupSafra GroupThe Safra Group is an international network of privately held companies controlled by the Safra family, comprising a banking and financial institutions conglomerate, industrial operations and telecommunications. It is present in the US, Europe, the Middle East, Latin America and the Caribbean.The...
- Banco SafraBanco SafraBanco Safra is a Brazilian and international bank, ranking tenth among the country’s largest sector financial institutions in terms of total assets. The Bank is part of the larger Safra Group of banks and financial institutions.-Operations:...
- Safra National Bank of New YorkSafra National Bank of New YorkSafra National Bank of New York is a full-service commercial banking institution engaged in international banking operations, as well as domestic business activities emphasizing short and intermediate term financing for business ventures in industry and trade...
- Joseph SafraJoseph SafraJoseph Safra currently runs the Brazilian banking and investment empire, Safra Group. As the chairman of all Safra companies, among them Safra National Bank of New York and the large Banco Safra headquartered in São Paulo, Brazil, he is ranked at 68 with a net wealth of 11.4$ billion on Forbes...
- Edmond SafraEdmond SafraEdmond J. Safra was a Jewish Brazilian-naturalized, Lebanese banker who continued the family tradition of banking in Lebanon, Brazil and Switzerland. He married Lily Watkins. He died in a fire that attracted wide media interest and was judicially determined to be due to arson.-Life of Edmond...
- Moises SafraMoises SafraMoises Safra is a Brazilian businessman, founder of Banco SafraMoises was born into a wealthy Jewish banking family in Aleppo, Syria. The family's history in banking originated with caravan trade between Aleppo, Alexandria and Constantinople during the Ottoman Empire...