As Puilaetco, a subsidiary of Luxembourg-headquartered Quintet, nears the final stages of a high-profile partnership with BlackRock, the world’s largest asset manager, the Belgian private bank is setting ambitious, forward-looking objectives. The collaboration aims to tap into next-generation wealth management, with new services expected to roll out in Q1 2024.
“We see a significant upside in this global collaboration with BlackRock. The strategic focus will be broad, spanning asset allocation, product innovation, research, content, and risk management,” said Ludivine Pilate, CEO of Puilaetco.
Quintet in July signed a memorandum of understanding with BlackRock to extend its investment capabilities, significantly strengthening its ability to meet the long-term needs of its clients while retaining full control of all its investment decision-making. The agreement affects the work at Puilaetco and at Quintet’s subsidiaries in other European countries, such as InsingerGillissen in the Netherlands.
Targeting the next generation
One key initiative in the pipeline is the launch of a Next Generation Academy, aiming to retain younger clients who stand to inherit significant wealth. “The academy will offer training and information in broader wealth management, filling a current educational gap,” Pilate explained.
Dimitri Christiaens (photo), Head of Investment & Client Solutions Belgium at Puilaetco, added, “We’re extending our financial conversation with younger clients, moving beyond traditional investments like Bitcoin to a more comprehensive dialogue on wealth management.”
Innovative, customized solutions
Leveraging BlackRock’s extensive product range, the Belgian Quintet subsidiary aims to offer innovative, customized financial solutions. “Through BlackRock’s global reach and diverse offerings, we can develop financial products that resonate with younger investors, particularly in the areas of sustainability and digital assets,” said Christiaens.
Collaboration beyond BlackRock
While the BlackRock partnership is a significant step, Pilate also indicated that the firm is open to more collaborations to tackle the industry’s challenges. “Given the fast-evolving regulatory landscape, partnerships help us turn challenges into opportunities,” she said.
The collaboration is a move to future-proof the private banking sector, not only by adapting to regulatory changes but also by focusing on the evolving preferences of the next generation of wealth holders.
This article originally appeared in Dutch on InvestmentOfficer.be.