J. Safra Sarasin to acquire remaining stake in Saxo Bank, creating $460B asset management giant

Swiss private banking heavyweight J. Safra Sarasin is moving to take full ownership of Saxo Bank, snapping up the remaining roughly 28.69% indirect stake in Saxo Holding AG from founder Kim Fournais. The deal gives the Safra group complete control over one of Europe’s most prominent online trading platforms.

The combined entity will oversee more than $460 billion in client assets.

From majority to full ownership

This acquisition isn’t exactly a surprise. J. Safra Sarasin already completed its purchase of approximately 71% of Saxo Holding back in March 2026, a deal that valued the Danish-founded trading platform at roughly €1.6 billion.

The remaining stake belonged to Fournais, who co-founded Saxo Bank and has been the driving force behind its evolution from a niche brokerage into a multi-asset trading platform. He will continue serving as Chairman of the Board of Directors at Saxo Bank, stepping back from the CEO role but maintaining a governance presence.

The March transaction required regulatory approvals across multiple jurisdictions before it could close. The remaining stake purchase effectively tidies up the ownership structure, removing any ambiguity about who calls the shots.

Why this matters for digital assets

Saxo Bank isn’t a crypto-native platform, but it has been steadily building out its digital asset offerings. The platform provides access to derivatives and exchange-traded products linked to Bitcoin, Ethereum, and other digital assets, serving both retail and institutional investors who want crypto exposure through a regulated, traditional finance wrapper.

No direct crypto tokens are linked to this acquisition. Saxo Bank also faced a fine in Hong Kong in 2026 related to virtual asset offerings, a reminder that expanding into crypto-adjacent products comes with compliance costs that smaller competitors might struggle to absorb.