Bank J Safra Sarasin (Deutschland), owned by Brazil-headquartered Safra Group, has expanded its presence in the southern region of Germany with the opening of a new office in Stuttgart.

The bank has selected Artur Montanhas, who has worked for the Bank since 2009, to head up the new Stuttgart office. He will also be regional manager for Baden-Württemberg, while Werner Schwenk becomes deputy manager for Stuttgart.

As a result of the new office, the activities of the Nuremberg office will be transferred to the Stuttgart and Munich offices, effective 30 September 2013, the bank said in a statement.

"With this reorganisation, Bank J. Safra Sarasin is looking forward to strengthening its presence in the southern region of Germany and to continuing its successful growth," the bank said.

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