NEW YORK, November 28, 2022 /PRNewswire/ — Safra New York Corporation, the parent company of Safra National Bank from new Yorkannounced that it has entered into a definitive agreement to acquire Delta North Bankcorp and its subsidiary, Delta National Bank and trust (“delta”). Delta provides private banking and wealth management services to high net worth clients through its offices in new York and Miami.
The acquisition is a strategic expansion of Safra National Bank from New York’s private banking business both in The United Statesand continuous Latin Americawhere it offers premium private banking and financial services to high net worth clients.
With this transaction, J. Safra Group strengthens its private banking business and global wealth management capabilities.
Jacob J Safrachairman of Safra National Bank from new Yorkcommented:
“This transaction underscores the importance of the Latin American market for the J.Safra Group and represents an attractive opportunity to expand our position in the region. It’s a market we know very well and in which we’ve achieved a highly respected presence for ourselves. Delta’s private banking business fits perfectly with Delta’s strategic vision Safra National Bank from new York.”
Simon MoratoCEO of Safra National Bank from new Yorksaid:
“This transaction underscores our strength as one of the leading brands in private banking worldwide. We look forward to welcoming Delta customers and employees to our organization new York and Miami. Together we are confident that we will bring immeasurable value to our customers.”
Guillermo SefairChairman and President of Delta National Bank and trust company:
“This is an important transaction between two international, family-owned private banks with common principles and values. We are fully committed to this new chapter to continue providing excellent and quality services to our customers and employees.”
The acquisition is expected to close during the first half of 2023, subject to regulatory approvals. Financial terms are not disclosed.
J. Safra Group
The J. Safra Group (the “Group”) with total assets under management of over $300 billion consists of privately owned banks under the Safra name and equity interests in asset-based business sectors such as real estate and agribusiness. The Group’s banking interests in over 160 locations worldwide are: Safra National Bank from new York headquarters in NYC, United States of America; J. Safra Sarasin, headquartered in Basel, Switzerland; and Banco Safra, headquartered in Sao Paulo, Brazil; all independently from the perspective of consolidated supervision. The Group’s real estate portfolio consists of more than 200 prime commercial, residential, retail and farmland properties worldwide, such as: New York City’s 660 Madison Avenue office complex and Londons iconic Gherkin Building. Investments in other sectors include holdings in agribusiness Brazil and Chiquita Brands International Inc. With deep relationships in global markets, the group is able to add significant value to the companies it owns. More than 34,000 employees are associated with the J. Safra Group.
For more information, please contact:
Biscuit & Company
SOURCE Safra New York