Quintet reshuffles country CEOs as Rodermann, Krafft exit
Luxembourg-based global private bank Quintet has reshuffled the top leadership of its branches in Luxembourg and Germany following a series of departures of senior executives at the end of last year that included CEO Europe Thomas Rodermann. Rodermann, one of the former UBS executives that had joined the bank in recent years, was seen as the architect of the integration of the private bank’s German, Dutch and Belgian businesses into a single business unit. A successor will not be appointed, Quintet said.
InsingerGilissen braces for a storm in high-yield
A fortnight ago, Dutch private bank InsingerGilissen sold a pack of high yield bonds to increase its holdings in investment grade bonds. The bank does not rule out that it will do so again in early 2023. “If you expect risks, there will be a storm in the high yield segment as well,” chief investment officer Gerwin Wijnia told InvestmentOfficer.nl.
‘High-dividend, low-volatility equities can reduce portfolio risk’
Quintet sees little cause for celebration when the world rings in the new year, the Luxembourg private bank said in its 2023 outlook. The year ahead will be one of two halves: once central banks stop raising interest rates, a new cycle of uneven, global growth will begin. High-dividend and low-volatility equities may provide an opportunity to reduce portfolio risk, the firm’s investment officers said.
Imbalance between private and public markets troubles investors
Private market investments have become overweight in institutional portfolios following this year’s substantial declines in public markets. Half of investors are waiting “as long as necessary” for this dislocation to subside. The other half is concerned, a new survey by Bfinance shows. The report is of particular interest to Luxembourg, where interest in private assets and alternative investments has increased significantly in recent years.
Banks by 2035: massive changes are on the horizon
Driven by new technologies, consumer expectations and risks, banks are increasingly forced to think and act differently, The boldness with which they embrace change in the time ahead will determine which scenario unfolds between now and 2035. “Massive changes are on the horizon.”
Private banks in Luxembourg struggle
Private banks in Luxembourg, especially the smaller ones, are struggling to survive, and the markets have not made business any easier this year, it became clear at a press presentation on Friday afternoon, held at the offices of Luxembourg’s bankers’ association ABBL, which presented the results of a new survey. “The important thing is critical mass.”
CSSF penalises Banque J. Safra Sarasin for AML shortcomings
Luxembourg financial regulator the CSSF announced late last Friday a “reprimand” on a Swiss private bank named Banque J. Safra Sarasin (Luxembourg) S.A. for failing to comply with Luxembourg law on the fight against money laundering and terrorist financing (the AML/CFT law).
After CSSF scolding, Sarasin says ‘no actual’ money laundering
Swiss private bank Banque j. Safra Sarasin (Luxembourg) S.A, reprimanded by Luxembourg financial regulator CSSF in a public statement last Friday, has stated that the regulator had alleged no «actual money laundering activities”.
Quintet says remains committed to Dutch InsingerGillissen
Luxembourg-based Quintet Private Bank on Sunday said it remains committed to its InsingerGilissen unit in the Netherlands after news emerged at the weekend of another major departure of one of its investment teams, the second such exit in the space of two weeks.
« Les produits non durables n’entrent plus chez nous »
La stratégie d’investissement de Belfius est résolument axée sur les produits durables. « Les produits non durables n’entrent plus chez nous. » Et la banque se targue de son expertise en matière de gestion thématique et durable.