Swiss private bank J. Safra Sarasin has registered a net profit of CHF205m for the year ended 31 December 2014, up 14% as against a year ago.
Assets under management increased 12% to CHF147bn. Clients’ assets under management increased 12.2% to CHF147.4bn from CHF131.4bn a year ago.
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Jacob Safra, vice chairman of the group said, "We are delighted to report these excellent results for 2014. J. Safra Sarasin Group has successfully established itself as one of the world’s leading private banks. We have secured a firm foothold in growth markets such as Asia and the Middle East, while strengthening our long-standing presence in other key domestic markets. J. Safra Sarasin is ideally positioned to pursue our growth strategy and act as a leading player in the ongoing industry consolidation."
Separately, Bloomberg reported that the bank is considering further acquisitions.
Last year, the group recently acquired Morgan Stanley’s Geneva unit, which helped it expand client assets to CHF147.4bn.
The company "is ideally positioned to pursue our growth strategy and act as a leading player in the ongoing industry consolidation" Bloomberg quoted Jacob Safra as saying.
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