The firm has rebranded its asset management operation in a bid to improve its financial performance in the segment.

Private banking group J Safra Sarasin has rebranded its asset management operation in a bid to improve its financial performance.

The new brand for its asset management activities and sales to institutional investors and wholesale business will be called J Safra Sarasin Asset Management, it said in a statement.

The firm said the new brand will help it “aim to deliver strong, long-term investment performance in key competence areas and specialties”.

“The asset management industry is going through unprecedented changes due to regulation, technology and the evolution in investors’ preferences,” said Daniel Belfer, head of asset management, treasury and trading. “While the new brand remains part of the bank and continues to benefit from its global competencies and infrastructure, we wish to approach the market as a distinct recognisable fully-fledged asset manager. We are confident that this new J Safra Sarasin Asset Management brand will enable us to strengthen current relationships and develop new ones.”

In March, this publication reported that the Switzerland-headquartered private bank, reported a 25.1 per cent year-on-year rise in net profit to SFr315.3 million ($334 million) for 2017. The bank also said it will also continue hunting for potential acquisitions, following a run of recent deals.