The Luxembourg wealth manager opened its Swiss branch after closing the acquisition of Bank am Bellevue. It revealed ambitious recruiting plans.
Quintet won approval to purchase Bank am Bellevue, the Qatar-controlled private bank said on Monday. The news follows a separate statement from Bellevue earlier on Monday that the deal had wrapped, and 1.6 billion Swiss francs ($1.7 billion) in assets moved to Quintet.
Now led by veteran private banker Emmanuel Fievet (pictured below), the unit will target Swiss clients as well as offshore international ones, it said. Quintet in Switzerland aims to double its roughly 40 employees currently, Fievet said.
Poaching From UBS
Half its current staff came over with the Bellevue deal. «The Swiss firm is actively recruiting additional staff and intends to double its current headcount over the next 12 months,» he said. The wealth manager has hired copiously from UBS, both in Switzerland as well as elsewhere.
The bank was rocked by the sudden death of CEO and financial backer Juerg Zeltner last month. The project faces an uncertain future without his enormous «pull» power. Dagmar Kamber-Borens, who built up the Swiss unit, left the job shortly after his death.
