Quintet

Luxembourg-based Quintet Private Bank  has opened a branch in Zurich, Switzerland. The opening follows the acquisition of the local Bank am Bellevue, the asset management arm of Bellevue Group AG, and the approval of the transaction by the regulatory authorities.

Earning no yield on gold is better than a negative yield on bonds. Therefore investors should shift the allocation of their portfolios from negative yielding bonds to gold, according to Quintet.

Quintet (formerly KBL European Private Bankers) is positive about alternatives and tends to have an overweight in gold both for the long and short term.