The German billionaire family Quandt has restructured its financial services operations and entrusted the position as CEO to a former Credit Suisse banker.
Stefan Keitel will become chief executive officer of HQ Holding, the company said in a statement on Monday. HQ Holding combines the financial activities of Harald Quandt’s heirs.
Harald and his brother Herbert once put carmaker BMW back on its feet. He died in the 1960s of the last century.
Trust for 100 Families
One part of HQ Holding is HQ Asset Management, a firm specializing in quantitative investments. Others are global alternative investment manager HQ Capital and multi-family office HQ Trust. The trust manages assets of more than 100 super-rich families.
Keitel is an experienced financial-market expert. In his new job, he will face the task of developing the business of the firm, based in Bad Homburg near Frankfurt.
Keitel, a citizen of Germany, was chief investment officer at Credit Suisse until 2009. Most recently, Keitel had worked at Deka Group.
New Chairman
As part of its reorganization, the Quandt family also appointed Joachim Faber as chairman of the combined business. Faber has been the chairman of JAB Holdings for seven years. JAB Holding is the family office of the Reimann dinasty.
The ex-Allianz manager Faber is also chairman of Deutsche Boerse.
