Quintet's CEO in Switzerland is leaving, finews.com has learned. She is being replaced by a former Rothschild private banker.
The wealth manager's Swiss CEO Dagmar Kamber-Borens is leaving, a source familiar with the matter told finews.com. A spokesman for Quintet, which rebranded from its former name KBL two months ago, confirmed her exit.
«Given that Quintet is now approaching the closing of the acquisition of Bank am Bellevue, Dagmar Kamber Borens has decided to pursue other opportunities elsewhere and pass the baton to a successor to lead the bank into the next stage, focusing on long-term growth,» a spokesman for the Quintet said in an emailed statement.
Death of Guiding Light
Her departure comes shortly after the death of Quintet's leader, Juerg Zeltner, last week. The former head of UBS' private bank, Zeltner was a legendary figure in wealth management circles, and his death at 52 leaves the Luxembourg wealth manager severely weakened at a crucial juncture.
In Switzerland, Kamber-Borens will be replaced by Emmanuel Fievet (pictured below), whom Zeltner poached from Edmond de Rothschild six months ago to run Quintet in Luxembourg. In turn, Nordics boss Søren Kjaer will also take over responsibility for Luxembourg, Quintet said.
Kamber-Borens hands over to Fievet a nearly-complete Swiss bank, pending the acquisition of Bellevue, the small private bank which will give Quintet a license. A former UBS and Credit Suisse operations specialist, Kamber-Borens had hired copiously in recent months for Quintet to hit the ground running once the deal closed.
Fievet, who is Belgian, was most recently head of international clients at Edmond de Rothschild in Geneva. He previously worked for the private banking arms of Barclays, UBS, Citigroup, and J.P. Morgan.
Swiss as Key Hub
Quintet said Fievet will seek to expand the base of Swiss and international clients it is acquiring from Bank am Bellevue. Switzerland represents one of three hubs Quintet plans to slim itself into in Europe, alongside the U.K., where it operates regional wealth boutique Brown Shipley, and home market Luxembourg.
Zeltner, who left UBS at the end of 2017, teamed up Quintet's owner, the ruling family of Qatar, last year. He and several associates including Jakob Stott, who has now succeeded Zeltner as CEO, and Colin Price, who became operating chief last year, joined him.
