The acquisition, first announced in spring 2025, marked a major milestone for the Swiss private bank. Regulatory approvals took around a year to obtain before the transaction was completed in March. At the time, Kim Fournais retained his 28 percent stake, stepped down as CEO and became Chairman of the Board.

According to a statement released on Monday, J. Safra Sarasin will now also acquire Fournais' indirectly held stake. Kim Fournais will remain Chairman of Saxo Bank.

The completion of the transaction remains subject to the customary regulatory approvals. «The terms of the transaction remain confidential,» the statement said.

Saxo to Remain Independent

Following completion of the transaction, Bank J. Safra Sarasin will own 100 percent of Saxo Holding AG and, indirectly, Saxo Bank.

Saxo Bank will continue to operate as an independent entity, the statement added.

The bank said it continues to experience strong business momentum and expects to report the best first-half results in its history as of 30 June 2026, driven by continued growth in both client numbers and assets under management.

Jacob J. Safra, Chairman of the J. Safra Sarasin Group, said: «Kim Fournais has built an exceptional company. His entrepreneurial spirit and relentless dedication have made Saxo a global pioneer in digital investing.»

Kim Fournais, Chairman and founder of Saxo Bank, added: «Building Saxo over the past three decades has been the privilege of my professional life, and I look forward to continuing to support its strategic direction.»