J. Safra Sarasin Group has announced the successful completion of the acquisition of Credit Suisse (Monaco) SAM as of January 13, 2017.

This transaction strengthens J. Safra Sarasin Group’s presence in Monaco, where the Group has been operating since 2006 and is determined to further strengthen its position, as it believes in the Principality as an important financial centre, the Group said.

Jacob J. Safra, Vice-Chairman of J. Safra Sarasin Holding AG, said: “We are determined to continue playing a leading role in the consolidation of the private banking market. We are proud to have completed another transaction and to welcome the clients and colleagues of Credit Suisse (Monaco) S.A.M. to the J. Safra Sarasin Group.”

READ ALSO: Monaco Life’s Q&A with Monaco’s Brazilian community visits J. Safra Sarasin Bank’s Executive Director, Severiano Alves-Pereira