Heiress to $350 Billion Banking Empire Exits in Family Shake-Up

An heiress to one of the world’s biggest finance fortunes has sold a stake in her family’s banking empire to two of her brothers, strengthening their control over the dynasty’s prized assets after an inheritance fight.

Esther Safra Dayan, 47, offloaded shares in her billionaire family’s namesake group for an undisclosed sum to brothers Jacob, 49, and David, 40, according to a statement Thursday from Safra Group, which has about $350 billion in total assets under management.

The two sons of Joseph Safra will make the purchase using resources of the remaining shareholders, according to the statement. ...