A spokesman for the bank said: “This transaction strengthens J. Safra Sarasin Group’s presence in Gibraltar, where the group has been operating since 2001 and is determined to further strengthen its position as it believes in Gibraltar as an important financial centre.”

Going forward, the Bank will operate under the new name of Bank JSS (Gibraltar) Ltd and its aim is to continue to provide best-in-class wealth management solutions to both private and institutional clients.

Oliver Cartade, new member of the Board of Directors of Bank JSS (Gibraltar) Ltd, said: “We very much look forward to welcoming the new clients and colleagues to J. Safra Sarasin. This acquisition will enable us to further expand our footprint in Gibraltar.”

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