Quintet Private Bank

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  Quintet Private Bank SA
logo
Country LuxembourgLuxembourg Luxembourg
Seat Luxembourg
legal form Société Anonyme
BIC KBLXLULLXXX
founding 1949 (as KBL)
Website Quintet Private Bank www.quintet.com
Business dataTemplate: Infobox credit institute / maintenance / data out of dateTemplate: Infobox credit institute / maintenance / year missing
Employee 2000
management
Board of Directors George Nasra
Board Jürg Zeltner (†, CEO until March 22, 2020), interim CEO Jakob Stott

The Quintet Private Bank is a Luxembourg bank headquartered in the Upper Town of Luxembourg City . The bank's private banking group has offices in 50 European cities and has been owned since 2011 by Precision Capital , a Luxembourg-based bank holding company controlled by the family of the Qatari Sheikh Hamad ibn Jazim ibn Jabr Al Thani family in Qatar .

The Quintet Private Bank was founded on May 23, 1949 as Kredietbank Luxemburg . It later traded as KBL European Private Bankers (KBL) , until mid-January 2020 as "KBL epb". In the early days KBL employed five people, including Constant Franssens (CEO).

Head office (center) of KBL or Quintet Private Bank in Luxembourg City (2015)

On May 21, 2010, the Indian investment company Hinduja Group announced that it would take over KBL European Private Bankers' division from the Belgian KBC Group for EUR 1.35 billion. On March 16, 2011, however, it became known that the Luxembourg financial supervisory authority, Commission de Surveillance du Secteur Financier (CSSF), refused to approve the sale.

In 2011 the KBL u. a. with its subsidiary Merck Finck Privatbankiers sold by the Belgian KBC Group for 1.05 billion euros to Precision Capital , which is controlled by George Nasra for the Al Thani family.

The financial company manages around 72 billion euros in customer funds (as of May 2019) in its network of its own private banks and asset managers in Europe - including Brown Shipley , InsingerGIlissen , Quintet Espana , Quintet Luxembourg , Merck Finck , Puilaetco and Puilaetco , which will in future be called " A Quintet Private Bank ”.

In May 2019, Jürg Zeltner (†) was appointed CEO of the KBL board. He took over the office in December 2019 and was replaced interim on March 22, 2020 by the Dane Jakob Stott (* 1955). Both Zeltner, the former head of the world's largest UBS asset management company, and Stott come from UBS. Numerous other successful UBS and Credit Suisse bankers were also lured away for the rebranding of Quintet Private Bank .

In August 2019 KBL agreed with the Swiss Bellevue Group to take over their asset manager Bank am Bellevue . The closing of the transaction - to get a "mainstay in Switzerland, the most important offshore market " - is expected for the first quarter of 2020.

Web links

Individual evidence

  1. ↑ Entry in the BIC directory at SWIFT
  2. ↑ Head of the former KBL deceased , wort.lu/ of March 23, 2020
  3. ↑ A chat at the kitchen table , journal.lu from March 2, 2020
  4. ↑ New plans for Merck Finck. The Munich private bank could go public. (No longer available online.) In: faz.net . March 30, 2011, archived from the original on November 10, 2012 ; accessed on April 23, 2015 .
  5. ↑ The puller from Qatar , journal.lu of October 12, 2015
  6. ↑ Precision Capital acquires KBL epb, KBC's private banking subsidiary , wallstreet-online.de of October 10, 2011
  7. ↑ Private bank Merck Finck goes to Qatar for the second attempt , reuters.com October 10, 2011
  8. ↑ Reuters Editorial: LU0092281103.BR - Quintet Private Bank Europe SA Profile | Reuters. Retrieved March 23, 2020 (English).
  9. ↑ Merck Finck's parent company gets a new name and Merck Finck a new logo . In: Citywire Germany . ( citywire.de [accessed on March 23, 2020]).
  10. ↑ Jürg Zeltner joins the Luxembourg private banking group. May 23, 2019, accessed March 23, 2020 .
  11. ↑ KBL epb becomes Quintet , Lëtzebuerger Journal of January 16, 2020
  12. ↑ Jürg Zeltner elects KBL head role instead of Deutsche Bank control seat, private-banking-magazin.de from October 11, 2019
  13. ↑ Qataris want more influence at Deutsche Bank , private-banking-magazin.de of August 13, 2019
  14. ↑ Jürg Zeltner on sick leave, dived , insideparadeplatz.ch from December 17, 2019
  15. ↑ Head of the former KBL deceased , wort.lu/ of March 23, 2020
  16. ↑ A chat at the kitchen table , journal.lu from March 2, 2020
  17. ↑ UBS team wants to ignite the turbo in Luxembourg. May 24, 2019, accessed March 24, 2020 .
  18. ↑ Quintet grabs three more UBS bankers. February 4, 2020, accessed March 24, 2020 .
  19. ↑ Without Jürg Zeltner, Quintet faces uncertain times , finews.ch of March 23, 2020
  20. ↑ Jürg Zeltner's private banking group buys the Bank am Bellevue - and challenges the Swiss competition , nzz.ch of August 20, 2019
  21. ↑ KBL de retour en Suisse avec Bank am Bellevue. Retrieved March 23, 2020 .

Coordinates: 49 ° 36 ′ 45 "  N , 6 ° 7 ′ 34.6"  E