Banques privées

Switzerland-based investment house Lombard Odier has reported a 4% increase in assets under management since the end of December 2022, reaching 198 billion Swiss francs of assets at the end of June 2023. The result is due in part to “solid contributions” due to new net inflows in its private clientèle and asset management units, the firm stated.

At the same time, the firm says it is pursuing strategic investments in its operations. At the end of June 2023, the total assets of the Group’s clients reached 308 billion Swiss francs.

German bank Commerzbank on Tuesday said it has taken a significant step in its asset management business by spinning off its active asset management segment into a new stand-alone boutique called Yellowfin Asset Management GmbH. 

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.

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.

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.

“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 Private Bank, dont le siège social se trouve au Luxembourg et opérant à travers l’Europe, a annoncé jeudi avoir signé un protocole d’accord avec BlackRock, le plus grand gestionnaire d’actifs au monde. L’accord étendra les capacités d’investissement de Quintet, renforçant significativement sa capacité à répondre aux besoins à long terme de ses clients tout en conservant le contrôle total de toutes ses décisions d’investissement.

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.

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.