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.
Quintet aims to expand Bank am Bellevue’s domestic and international client base by taking advantage of Switzerland’s status as one of the world’s major financial centres. The new bank will be led by Emmanual Fievet and now has around 40 staff, half of whom were previously employed by Bank am Bellevue.
Quintet’s Swiss branch is in the process of recruiting more staff and plans to double its workforce over the next 12 months. Quintet will place an emphasis on selecting experienced relationship managers, according to Fievet.
‹I’m looking forward to building an innovative private bank that’s small enough to be truly personal and big enough to provide access to the world,› said Fievet. ‹Together with my colleagues here in Zurich and across Europe, we’ll focus on what matters most to our stakeholders. We want to avoid complex relationships and processes, embrace different points of view and grow our business with the wishes and dreams of our clients in mind.›
Quintet is planning to open a new branch in Copenhagen as well later this year.