TheJ.Safra Groupis a Brazilian conglomerate comprising an international network ofcompaniescontrolled by theVicky Safrafamily, comprisingbankingandfinancialinstitutionsand industrial operations. It is present in the United States, Europe, the Middle East, Latin America, Asia and the Caribbean.
Company type | Private |
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Industry | Conglomerate |
Headquarters | São Paulo,Brazil |
Key people |
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Products | Financial services |
Number of employees | 30,000 |
Subsidiaries |
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Website | www |
History
editIn the early nineteenth century, Safra Frères et Cie., the family's first financial institution, was founded in theOttoman EmpireinAleppo, Syria.Further economic expansions prompted the family to open new branches inBeirut,followed byIstanbulandAlexandria.In the early 1900s, Beirut was chosen as headquarters of the newly founded BankJacob Safra.Following the end ofWorld War II,Jacob Safra expanded the new banking activities toward Europe and later to Latin America and the United States.
In May 2011, it purchased 20% of the pulp and paper company Eco Brasil Florestas for R$160 million.[1]In November 2011, it bought 46% of Swiss bank Sarasin for US$1.13 billion.[2]In 2012, the J. Safra Group came to hold all of Sarasin's shares after making an offer to acquire stakes from minority shareholders.[3]
In November 2014, it bought for 726 million pounds (or 2.9 billion reais) one of the largest buildings in London, 30 St Mary Axe or Gherkin.[4]
Slogan
editEach bank has its own slogan in its local language for marketing purposes. They all involve security and solidity.
However, the J. Safra Group general slogan is present in every Safra Company and has been kept graven in stone for over a century. Composed of a quote from the patriarchJacob Safrathat underlines the group's long term strategy, it reads:
If you choose to sail upon the seas of banking,
build your bank as you would your boat,
with the strength to sail safely through any storm.[citation needed]
Major companies
edit- Safra National Bank of New Yorkhas a core business of private banking. It has branches in and around New York and in Florida, as well as representative offices in Mexico, Brazil, Argentina, Chile and Uruguay. As a complement to its core business, the bank also offers securities trading through its independent registered broker-dealer, Safra Securities Corp.; global securities trading capabilities through its investment division; international correspondent banking services, and international trade finance. The bank is a member of both the Federal Reserve System and the Federal Deposit Insurance Corporation (FDIC). Safra Securities Corp. is a member of the Financial Industry Regulatory Authority (FINRA). Within the United States, the privately owned Safra National Bank of New York serves high-net-worth individuals, local businesses, and international corporations through branches in New York and Miami. It offers CDs, investment funds, money market instruments, and alternative investments. In addition to wealth management, the bank also performs brokerage services, bond trading, and correspondent banking.
- J. Safra Sarasinis the sixth largest Swiss Bank. J. Safra Sarasin is represented worldwide in 26 locations in Europe, Asia, the Middle East and Latin America. The Group's head office is in Basel, Switzerland. It was formed in 2013 when Safra Group acquired Bank Sarasin, and merged it with the group companyBank Jacob Safra Switzerland.
- Banco Safra S.A.is Brazil's sixth largest commercial bank. Banco Safra S.A. operates in all areas of the financial sector. Traditionally a corporate bank, Banco Safra has expanded its retail banking operations throughout recent years. Through its major Brazilian subsidiaries, Banco J. Safra S.A., Safra Leasing S.A. Arrendamento Mercantil, J. Safra Asset Management, Safra Vida e Previdência S.A., and J.Safra Corretora de Valores e Câmbio Ltda., the bank’s activities extend to leasing, securities underwriting, investment fund management, brokerage, insurance and credit operations. The bank is a relevant player in trade finance, asset management and treasury operations.
- Banco Safra (Cayman Islands) Limitedis a wholly owned subsidiary of Banco Safra S.A., incorporated under the laws of theCayman Islands.Known as Safra Cayman, the institution provides trade-financing services to its clients and correspondent banks, as well as other branches and divisions within the Safra Group. It also offers a broad range of commercial and financial services, especially in the trade finance area.
Assets and shareholder equity
editAs of 2005, The Group controlled about 71.5 billion in assets of which 36.9 billion are client assets and it has 6.3 billion stockholders' equity.[5][6]
Acquisitions
editIn November 2022, it was announced Safra Group had acquired theNew York-headquartered private bank, Delta North Bankcorp and its subsidiary, Delta National Bank and Trust.[7]
See also
editReferences
edit- ^"iG Economia - Notícias sobre a Bolsa, Finanças e Investimentos".iG(in Brazilian Portuguese).Retrieved8 March2023.
- ^"Safra compra participação no banco suíço Sarasin por US$1,13 bi".exame.Retrieved29 March2023.
- ^"Safra vai ter 90,47% do Sarasin após oferta pra minoritários".
- ^"Grupo Safra compra um dos maiores prédios de Londres".Valor Econômico(in Brazilian Portuguese).Retrieved8 March2023.
- ^"Safra Family Companies Assets, June 2005"(PDF).Archived fromthe original(PDF)on 28 September 2007.Retrieved23 July2006.
- ^"Safra Family Companies Shareholders Equity, June 2005"(PDF).Archived fromthe original(PDF)on 28 September 2007.Retrieved23 July2006.
- ^"Safra New York Corporation To Acquire Delta National Bank and Trust".NS Banking.29 November 2022.Retrieved29 November2022.