Quintet Private Bank, headquartered in Luxembourg, operating in 50 European cities and parent of London-headquartered Brown Shipley, has opened for business in Switzerland.
The launch of Quintet in Switzerland follows the successful closing of the acquisition of Zurich-based Bank am Bellevue – the wealth management business of the Bellevue Group – including approval of the transaction by the relevant regulatory authorities.
Switzerland’s newest private bank, located in the heart of Zurich’s financial center, will seek to expand Bank am Bellevue’s base of domestic and international clients, leveraging the country’s status as a global wealth management hub and Quintet’s own family of leading private banks.
Under the leadership of CEO Emmanuel Fievet and with some 40 staff, half of whom formerly served at Bank am Bellevue, the firm aims to carve a niche in this highly competitive space by combining the agility that comes with smaller size and the group’s financial resources and reach.
The Swiss firm is actively recruiting additional staff and intends to double its current headcount over the next 12 months. According to Fievet, Quintet is placing particular emphasis on identifying experienced relationship managers who share its commitment to earning the trust of the individuals and families it serves.
In Switzerland, Quintet aims to define a new standard in private banking by combining a highly personalized approach with independent, unbiased advice. With firm in-house investment convictions and open architecture, clients have access to the solutions that are right for them – provided by a team that is passionate about helping them achieve their goals through an innovative investment process tailored to each client’s individual requirements.
“Today, as we mark the closing of this important transaction, we are opening new doors of opportunity for people with an entrepreneurial mindset,” said Fievet, a member of the Quintet Group Executive Committee since October 2019 who earlier served as CEO and Head of International Private Banking at Edmond de Rothschild (Suisse). “With the right team, corporate culture and financial resources – and with a long-term horizon – we have a unique opportunity to challenge the status quo.
“I am very excited about building a new and different kind of private bank, which is small enough to be truly personal and big enough to offer access to the world,” he said. “In partnership with my colleagues here in Zurich and across Europe, we will focus on what matters most to our stakeholders, cutting through complexity, embracing diverse perspectives and growing our business – one client at a time.”
“The launch of Quintet in Switzerland is a milestone for our firm,” said Jakob Stott, Group CEO and member of the Board of Directors at Quintet Private Bank, which will also open its first branch in Copenhagen later this year, subject to regulatory approval.
“Even as we continue to invest in great people, geographic expansion and long-term growth, we will keep our eyes firmly fixed on the real prize: Doing the right thing – and not just the easy thing – for the individuals and families we serve.”