Banque J Safra Sarasin (Luxembourg) has unveiled a newly established branch in Madrid, Spain to serve private banking and institutional clients.
The opening of the Spanish branch fits with the group’s strategy to “develop its activities in core European markets”, it said in a statement.
The branch is registered with the Bank of Spain and the National Securities Market Commission (CNMV) and has been operational since 1 January 2022 as Banque J Safra Sarasin (Luxembourg), Sucursal en España.
It is headed by managing director Francisco Gomez-Trenor, who reports to Jules Moor, chief executive of Banque J Safra Sarasin (Luxembourg).
The operation will offer Mifid-regulated investment services.
Moor said: “This is a clear confirmation of our commitment to serve clients domiciled in Spain. Francisco has an outstanding reputation in the Spanish market and will contribute to the bank’s continued success with his professionalism and expertise. The bank will offer all sorts of banking options to its clients as well as loan options. It looks to help clients achieve all of their financial goals as well as to help them manage their finances. For additional banking and loan options visit www.wecu.com/personal-banking/vehicle-loans/.
“With this new local presence, benefitting from its state-of-the-art platform in Luxembourg, the Bank is well positioned to serve clients in this strategically important market.”