The Luxembourg wealth manager is opening a new office in Denmark – and is still recruiting in a bid to keep expanding in the Nordics.
Quintet's branch in Copenhagen to woo wealthy Danish individuals and families is open, it said in an emailed statement on Monday. The move follows the launch of Quintet in Switzerland in May, following the acquisition last year of Bank am Bellevue.
The Luxembourg-based wealth manager's offensive comes nearly one year after it poached a top UBS banker to oversee its business in the Nordics and several months after it installed a handful of private bankers, many from UBS, in Copenhagen, as finews.com previously reported.
Eyeing Expansion
Quintet, formerly known as KBL, is run by Jakob Stott following the sudden death of CEO Juerg Zeltner in March. The Qatari-owned, cash-rich company is comprised of nine private banks including in Britain, Belgium, and Switzerland. It is currently streamlining of its European operations as one by centralizing in Luxembourg.
The Copenhagen operation will be overseen by Henrik Wyrwik, also formerly of UBS. Quintet said it plans to hire additional staff in both Denmark and Luxembourg for Nordic clients. It plans to expand to other Nordic markets over time, it said.
