Safra New York Corporation Completes The Acquisition Of Delta North Bankcorp.

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NEW YORKOct. 1, 2023 /PRNewswire/ — Safra New York Corporation, the holding company of Safra National Bank of New York (“The Bank”), is pleased to announce the successful completion of its acquisition of Delta North Bankcorp, including its subsidiary Delta National Bank and Trust Company.

This strategic acquisition is a significant milestone for Safra National Bank and underscores the Bank’s continuous expansion in the private banking and wealth management business. The acquisition strengthens the Bank’s market position among high-net-worth clients in the United States and Latin America, where the Bank has been providing premier private banking and financial services and has a long and successful track record.

Jacob J. Safra, Chairman of Safra National Bank of New York“We are proud to have completed this acquisition, which represents an excellent strategic fit to our existing business in these markets. Clients will benefit from an organization that is fully dedicated to wealth management, providing the service, products and expertise that best meet their specific needs. We are confident that the Bank has all the attributes required to continue growing and prospering in a sustainable manner.

Simoni Morato, Chief Executive Officer of Safra National Bank of New York“We very much look forward to working closely with Delta’s clients and employees and developing long term relationships. Together we will build on the strengths of our organization, not only in the United States, but also throughout Latin America.”

Safra National Bank of New York

Headquartered in New York, with branches in AventuraMiami and Palm Beach, and offices throughout Latin AmericaSafra National Bank is a leading private bank with approximately US$ 30 billion in clients’ assets. Safra National Bank of New York is part of the J. Safra Group.

J. Safra Group

The J. Safra Group (the “Group”), with total assets under management of over USD $300 billion, consists of privately-owned banks under the Safra name and investment holdings in asset-based business sectors such as real estate and agribusiness. The Group’s banking interests in 160 locations globally, are: Safra National Bank of New York, headquartered in New York CityUSA; J. Safra Sarasin, headquartered in Basel, Switzerland; and Banco Safra, headquartered in Sao Paulo, Brazil; all independent from one another from a consolidated supervision standpoint.

The Group’s real estate holdings consist of more than 200 premier commercial, residential, retail and farmland properties worldwide, such as New York City’s 660 Madison Avenue office complex and London’s iconic Gherkin Building. Its investments in other sectors include, among others, agribusiness holdings in Brazil and Chiquita Brands International Inc. With deep relationships in markets worldwide, the Group is able to greatly enhance the value of businesses which are part of it. There are more than 34,000 employees associated with the J. Safra Group.

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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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