J. Safra Sarasin Group to acquire Lombard Odier’s Private Banking Business in Gibraltar.

J. Safra Sarasin Group, the Swiss wealth manager, agreed to buy Lombard Odier’s private banking business in Gibraltar. The deal includes transferring clients and their relationship managers to J. Safra Sarasin. Financial terms were not disclosed. Jacob J. Safra, Chairman of J. Safra Holdings International and Vice Chairman of J. Safra Sarasin Group, commented: “Bank Lombard Odier’s business in Gibraltar is an excellent fit with our existing operations. Having successfully integrated the operations of Credit Suisse (Gibraltar) Ltd, we look forward to welcoming to our Group the clients of Lombard Odier and their relationship managers in Gibraltar, who will benefit from our scalable platform and commitment to this important financial centre.”