InsingerGilissen CEO Martijn Storsbergen delved into how the Dutch private bank is positioning itself within the Luxembourg-headquartered Quintet group. He argues that scale and the backing of a solid parent group are now indispensable in the private banking landscape: “In today’s world, you simply cannot do without a strong parent company or a certain level of scale.”
Storsbergen joined InsingerGilissen in 2023, coming from ABN Amro to take on the role of head of private banking. It came as no surprise when then-CEO Frank Koster asked him a year later to take over the CEO role as of January 2025. “I wasn’t hired with the explicit message that I would become CEO after a few years, but Frank did say from the beginning that it’s important to have your successor already within the organization. There was already ‘a dot on the horizon,’ as I like to put it.”
Koster announced in a late-2024 press release that he would step aside after completing the mission he had been hired for: reshaping InsingerGilissen and positioning the organization for long-term growth.
“Frank came here with a mandate,” Storsbergen said. “The bank needed to get back into calmer waters with the Dutch central bank, given the challenges we faced there. At the same time, he had to integrate InsingerGilissen into the Quintet organization, to make sure we aligned under one policy and one profile. By the end of last year, he had achieved that more than successfully.”
By that time, Storsbergen had also fulfilled his two principal assignments: improving the Know Your Customer process and restoring stability within the team after the Dutch central bank’s 2021 warning about gaps in the private bank’s client files.
“We had a major job to do there, so it made sense to add another layer to the organization with a director of private banking. Now that the remediation process is complete that’s no longer necessary. Private banking falls under me again, and the organization is streamlined. The focus now is on renewal and client-driven growth. Where Frank built the foundation, I am now ensuring, together with colleagues, that our horizon stays clear and that we maintain our momentum.”
Do you see internationalization as an important theme in your role?
“Of course. The biggest international trend at the moment is the growth in private banking. Many financial institutions want to invest in private banking because it can be an important driver of profitability. Margins are simply good. Quintet and InsingerGilissen are pure private banks, so our investments automatically go entirely toward private banking. Specifically, we’ve invested in digitalization, our client proposition and strong specialists, for example in estate planning and philanthropy.”
All banks have similar ambitions in private banking. Is there room for everyone?
“It cuts both ways. The market grows by 6 to 8 percent a year, both in Europe and in the Netherlands. That’s because existing clients are becoming wealthier, helped by rising equity markets and private equity investments, but also because there are many new wealth creators. Several banks can tap into that growth. Some do it by moving clients up or down from their retail or corporate bank, but we can’t. We rely more on our events, networks and referrals from existing clients. But we also do cold outreach more often. Sometimes we try something playful, like sending a cake shaped like someone’s company mascot after a business sale.”
Quintet wrote in its 2024 annual report that it aims to accelerate organic growth in 2025–2026 by investing in existing activities, improving efficiency and pursuing strategic expansion opportunities. By 2027, the private bank wants to “grow at full pace” and look at further M&A options.
Is InsingerGilissen’s growth ambition different from Quintet’s?
“Quintet as a group has a growth ambition, and every country contributes to it. Some countries are further along and contribute more. The Netherlands is a very important pillar within Quintet. As InsingerGilissen, we don’t report separate figures, but in terms of profitability, headcount and especially growth, we make a strong contribution.”
Would you want to acquire an asset manager in the Netherlands?
“If you acquire an asset manager, you immediately face all the discussions about integrating systems. For us, it’s easier to bring in strong talent from the market and grow from there.”
How much is determined in Luxembourg?
“It’s a collaborative process. Our investment policy is set centrally within Quintet, partly through our cooperation with Blackrock, which we wouldn’t have without a strong parent company managing around 100 billion euros. At the same time, we are responsible for our own portfolios and have a seat and voting rights in Quintet’s investment committee. The information we gather here flows back to the group. If we feel something is missing, we have the influence to make sure it gets addressed.”
For example, when many clients request a particular solution – do you have to pitch that?
“Every country is represented in the investment committee, and that’s where requests like these are raised. Communication lines are short, and you can genuinely influence decisions. Our private markets solution, for instance, originated from a need voiced in the Netherlands, and a few years ago we pushed for more investment management options beyond the standard solution. Now in addition to the classic version, we have a sustainable option, an index-based option and an income-focused variant, as well as bespoke solutions.”
What share of clients is in advisory mandates?
“In the Netherlands, around 60 percent is in discretionary management, 30 percent in advisory and 10 percent execution only. Many Dutch firms are pulling back from advisory because of increasing regulatory requirements. That debate was held here as well before I joined, but I see advisory as an area to grow into. There is still strong demand.”
Is that distribution very different in other countries?
“Within the Quintet group, we have the largest advisory operation. In Belgium for example, the focus traditionally lies more on discretionary management. The market structure there is simply different. It’s neither good nor bad—just a different landscape.”
Where will the focus be for the Netherlands in the coming year?
“Above all on growing the organization further. That aligns with the international trend in private banking: the market is expanding, and we want to capture a meaningful part of that growth here in the Netherlands.”
This interview was originally published in Dutch on Investment Officer NL.