Our History
A family-owned business. For over 180 years
The origins of the J. Safra Group are characterized by a successful banking history that dates back to the mid nineteenth century. Over 180 years later, the J. Safra Group is one of the largest privately owned conglomerates in the world.
1800's
The Industrial Revolution
During the 19th century, the Industrial Revolution transformed the economies of Europe, the Mediterranean and North America. Major inventions – such as the steam engine and use of electricity – led to massive infrastructure change. Railroads and steamships expanded the horizons and led to an age of vibrant international trade. Bankers were the main source of financing for traders in this dynamic environment.
1841
An expertise born along trade routes
The Safra family banking heritage began in Aleppo, Syria, with the foundation of the family’s first banking house in 1841. Aleppo was one of the major centers of trade and a mandatory route from the East to Europe, and from the latter to Persia and inner Asia. The Safra family financed trade and exchanged currencies for tradesmen, who came to the city through the desert and the Mediterranean.
1900's
Fast-paced expansion under the leadership of a strong patron
The Safra businesses expanded at a fast pace, thanks to the vision and engagement of its patron at the time, Jacob Safra. The success of his bank should certainly be seen in the context of the enormous diversity of his interests and activities. Jacob Safra was highly regarded for his exceptional memory, mental agility, and financial literacy.
1950
Geographical expansion
The Safra family soon realized that, with increasing globalization, geographical expansion was vital to develop their empire. Safra expanded initially throughout the Middle East, then to Switzerland, and further to Latin America, United States and Asia. These expansion patterns have resulted in a true global presence of the J. Safra Group.
1953
The Safra Family arrives in Brazil
In the post-World War II, Brazil was under a stable government and experiencing strong growth, a combination that was attractive to the Safra Family.
1972
Banco Safra is established in Brazil
After the acquisition of other institutions, such as Banco das Industrias, Banco Safra is founded.
1987
Strengthening the Safra’s Presence in the United States
In 1987, the J. Safra Group decided to establish a full US-regulated bank in the heart of New York City. Safra National Bank was established, initially with one single branch, on 42nd Street. With its rapid growth – the Bank’s assets tripled between 1993 - 94, new premises were purchased, and the headquarters move to its current location on 5th Ave.
1997
Safra National Bank expands in the United States and Latin America
Safra National Bank acquires United Mizrahi Bank, a private bank in New York with offices in Argentina, Uruguay, Venezuela, and Mexico. The acquisition enabled Safra National Bank to quickly grow its client base across Latin America.
2000
Safra Securities starts its operations in the U.S.
Headquartered in New York, Safra Securities (SSL) is an SEC and FINRA-registered broker-dealer providing full brokerage and clearing services to its clients.
2004
J. Safra Asset Management is formed
After the acquisition of Alpha Investment Management, J. Safra Asset Management (JSAM) was established. JSAM is an independent investment firm dedicated to offering investment models and strategic alternative investment solutions to both individual and institutional investors.
2006
Consolidation of ownership
The Joseph Safra family becomes the sole owner of the J. Safra Group.
2011
Diversification into Real Estate
The J. Safra Group acquires 660 Madison Avenue office tower in New York City. The twenty-two-story mixed-use office building is the former iconic Barney’s New York building.
2011
Acquisition of Sarasin
On November 25, 2011, the J. Safra Group announces the acquisition of Swiss Bank Sarasin whereby the Safra Group would acquire the majority shareholding of Bank Sarasin.
2014
Prime investments
The J. Safra Group buys 30 St Mary’s Axe, best known as ‘The Gherkin’, an iconic piece of London real estate. The Group also acquires 50% of the food brand Chiquita.
2017
Safra National Bank expands in Florida
Safra National Bank acquires Hapoalim’s Private Bank business in Miami.
2021
New landmark office in Florida
Safra National Bank breaks ground on its new office in Aventura, Florida. Designed by Foster + Partners, the architects behind The Gherkin, in London, the new LEED gold-certified building will be a landmark in the Aventura area.
2023
New Branch in Palm Beach, FL
Safra National Bank opens new office in Palm Beach, FL
2023
Acquisition of Delta Bank
Safra National Bank acquires Delta National Bank as part of its strategic expansion plan.
2023
UN Global Compact
In line with its commitment to Environmental, Social, and Governance, Safra National Bank becomes a signatory of the UN Global Compact.
