J. Safra Sarasin Group completes the acquisition of the Private Banking Business of Bank of Montreal in Hong Kong and Singapore
J. Safra Sarasin Group is pleased to announce the successful completion of the acquisition of Bank of Montreal’s (BMO) Private Banking Business in Hong Kong and Singapore.
This acquisition confirms the Group’s expansion in the Asian private banking market and reinforces its leading role in these two important financial centres where it has a long and successful track record and to which the Group is highly committed.
BMO’s attractive and well-diversified client base as well as its experienced relationship management teams fit perfectly well with the private banking business of Bank J. Safra Sarasin and its comprehensive offering in investments, trading, credit and wealth planning.
Bank J. Safra Sarasin Ltd, Hong Kong and Singapore branches are locally regulated and registered institutions. They provide a complete suite of private banking and wealth management services to private and institutional clients in Asia and globally. Experienced staff, high-quality services and innovative products underpin the Group’s reputation as trusted partner and employer.
Jacob J. Safra, Chairman of J. Safra Sarasin Group, commented:
“We are proud to keep on growing in Asia and are delighted to welcome to our Group the clients of Bank of Montreal and their relationship managers in Hong Kong and Singapore. We look forward to helping manage their wealth in this dynamic region. This acquisition marks another step in the implementation of the Group’s international growth strategy and will allow the Group to further enhance its successful presence in Asia. We would like to thank Bank of Montreal for its cooperation and constructive support since the transaction was announced in January 2021.”