Four Luxembourg private banks get top Chambers ranking
Four private banks in Luxembourg have received the highest ranking in the latest “High Net Worth” report by London-based rankings and insights intelligence company Chambers and Partners.
Bank Julius Baer Luxembourg S.A., Banque de Luxembourg SA, Banque Internationale à Luxembourg SA and Pictet & Cie (Europe) SA - in alphabetical order - were each assigned a ‘band 1’ ranking, the highest in Chamber’s ranking system from one to six.
Antonucci named Chief Investment Officer at Quintet
Daniele Antonucci has taken on a new role at Quintet Private Bank. He has been appointed as Co-Head of Investment & Chief Investment Officer per July 1, he announced in a post on LinkedIn.
Antonucci joined Quintet in April 2020 and has since then served as Chief Economist & Macro Strategist. Before joining Quintet, he was Chief Euro Area Economist at Morgan Stanley.
‘French, Swiss banks hold best cards in bid for Degroof Petercam’
In what appears to be the final stage of bidding for Belgian private bank Degroof Petercam, two foreign banks are set to battle it out, Flemish daily De Standaard reported on Thursday, citing ‘several observers’. The bidding process for Degroof Petercam is expected to be completed this month.
Quintet: ‘BlackRock offers us a new arsenal of options’
“This partnership offers us a new arsenal of investment options. We also gain access to BlackRock’s technology and data. Our partner’s scale allows us to lower costs for our clients,” says Ludivine Pilate, CEO of Belgian private bank Puilaetco in an interview with Investment Officer.
Quintet partners with BlackRock to boost investment services
Quintet Private Bank, headquartered in Luxembourg and operating across Europe, on Thursday said it has signed a memorandum of understanding with BlackRock, the world’s largest asset manager. The agreement will extend Quintet’s 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.
ABBL claims success in lobbying effort on third-country branches
The association representing Luxembourg’s banking industry has claimed success in its lobbying effort to persuade the EU to amend the rules governing the prudential requirements and the supervision of third-country branches to its satisfaction. The association said Thursday that a series of subsequent amendments preserve the attractiveness of the EU as a financial centre towards the rest of the world.
Greenwashing: lessons for investment managers
The road to hell is paved with good intentions. This applies also for well-intended regulations on environmental, social and governance. Because of the growth of ESG-focused investments in recent years, a new problem pops up: the risk of greenwashing.
‘Crédit Agricole, ABN, Swiss to bid for Degroof Petercam’
Crédit Agricole, ABN Amro, and “one or two Swiss private banks” have been named as finalists in the bidding process for the acquisition of Belgian wealth management and investment bank group Degroof Petercam, French business daily Les Echos reported on Friday, citing multiple sources.
Pictet moves its European hq out of Luxembourg
Swiss private bank Pictet has decided to move its European headquarters to Frankfurt, relocating the function from Luxembourg. The grand duchy has served as the main European hub of the Geneva-based private bank for about three decades.
The bank said that its former Pictet & Cie (Europe) S.A. “transferred its registered office from Luxembourg” to Frankfurt per 26 May “by way of a cross border conversion from a Luxembourg Societé Anonyme into a German Aktiengesellschaft.”