Banques privées

A divisive European Commission proposal for a unified retail investment strategy is seen as one of the final pieces of EU legislation that is due to be approved in the months ahead, before next year’s EU elections. The industry’s objections are being heard in Brussels, it has become clear in recent weeks. Investors could end up pulling the short straw, critics argue.

Quintet Private Bank, based in Luxembourg, has forged a partnership with Berlin-based digital investment platform Moonfare. The alliance aims to bolster Quintet’s private-market offerings to select clients while extending Moonfare’s distribution reach.

Warren Hastings has been appointed as group co-head of investment and head of portfolio Management at Luxembourg-headquartered Quintet Private Bank.

Hastings served for the past dozen years at Credit Suisse, first in Asia and then for the previous five years in Zurich. He was most recently head of investment management, international locations, at that firm. After beginning his career at Schroders as a pan-Asian equity fund manager in London and Singapore, he then joined Standard Chartered, also in Singapore, as head of Portfolio management.

The European banking sector has witnessed a remarkable resurgence, chalking up its best performance since the 2007 financial crisis, according to a recent Deutsche Bank research report. Notably, European banks have narrowed the long-standing performance gap with their US peers.

Anna Zakrzewski has been appointed as the new Group Chief Operating Officer at Quintet Private Bank, headquartered in Luxembourg and active across Europe and the UK. Zakrzewski will take over from Eli Leenaars, who plans to retire at the end of the year. Her role will also extend to the authorized management committee, pending regulatory clearance.

As Puilaetco, a subsidiary of Luxembourg-headquartered Quintet, nears the final stages of a high-profile partnership with BlackRock, the world’s largest asset manager, the Belgian private bank is setting ambitious, forward-looking objectives. The collaboration aims to tap into next-generation wealth management, with new services expected to roll out in Q1 2024.

Hamburg-based private bank M. M. Warburg & Co has announced the launch of its first Real Estate Debt Fund, WB Urban Real Estate Finance I, a Luxembourg-registered Reserved Alternative Investment Fund for institutional investors.

Banque Internationale à Luxembourg (BIL), a Chinese-owned systemic bank in Luxembourg, on Monday posted a robust financial performance for the first half , revealing a net profit of 103 million euro, up from 68 million in the same period a year earlier. The bank attributed  the surge to the current global financial environment characterized by central banks hiking interest rates to combat soaring inflation levels. Clients deposits have fallen 6.8% during the first half.

Chinese growth is disappointing. Global asset managers are liquidating large parts of their equity positions in the country, resulting in falling share prices. It seems like a godsend for bargain hunters, but passionate China investors are also on their toes.

China is not growing fast enough, so investors have been liquidating their positions in Chinese stocks at an unprecedented rate.

High yield bonds are positioning themselves cautiously in the spotlight as recession fears recede and credit quality improves. While junk bonds perform best during periods of robust economic growth, a region that’s closely flirting with a recession is seen as having the most potential.