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A fast-growing business

12.11.2020 08:03

Quintet Private Bank

(From lft. to rgt) Carlo Thelen, General Director, Chamber of Commerce; Soren Kjaer, CEO, Quintet Luxembourg; Marc Wagener, COO / Chief Operating Officer - Director Training, Chamber of Commerce; Sandy Wewer, Head of Luxembourg Desk, Family Office Lux & Corporate Desk Wealth Management, Quintet Luxembourg.

Visit of 16 October 2020.

Quintet Private Bank - founded in Luxembourg in 1949 and known until January 2020 as "KBL European Private Bankers" - operates in 50 cities across Europe and is staffed by 2,000 professionals.

The group's new name and corporate identity were introduced at a time when it is making major investments to unlock its enormous growth potential, including by expanding its service offering and extending its global reach.

Everywhere Quintet operates, its brands have adopted a shared corporate identity, illustrated by a logo with five interlocking rings. Widely recognized as a private banking leader, Quintet serves wealthy individuals and their families, as well as a broad range of institutional and professional clients, including family offices, foundations and external asset managers.

Quintet's family of private banks includes: Brown Shipley (UK), InsingerGilissen (Netherlands), Quintet España (Spain), Quintet Luxembourg (Luxembourg), Quintet Switzerland (Switzerland), Quintet Danmark (Denmark), Merck Finck (Germany) and Puilaetco (Belgium & Luxembourg).

Interview with Soren Kjaer, CEO, Quintet Luxembourg.

What projects are you currently working on ?

We have changed a lot since the beginning of 2020, following our rebranding. We are introducing new products and services, and expanding our reach around the world while remaining faithful to our promise of high-quality, personalized service. Luxembourg will remain our headquarters. Last year, we hired over 200 people and will continue to expand and attract new talent to further develop our activities.

What achievements are you particularly proud of ?

I am deeply satisfied that I am able to hire and work with the right people. A strong entrepreneurial spirit and the right people make all the difference.

The last time you had a doubt ?

When the COVID-19 crisis hit us during the first lockdown. I wondered what was going to happen and how we could keep our people safe and healthy while continuing to run our business. In the end, our people came together in an amazing way to deliver, despite all the challenges.

What does it mean for you to have an entrepreneurial spirit ?

It means knowing how to take risks while measuring the potential consequences for our customers and our bank. In our business, the slightest mistake can have a long-term impact on the reputation of the company. We must know how to manage risk appropriately, meeting challenges and moving forward - always doing the right thing for the individuals and families we serve.

What impact has the COVID crisis had on your business and what do you think the Chamber of Commerce could do to support you?

During the lockdown, I clearly saw the positive impact of an empowered and more flexible workforce - one where working mothers and fathers found a new way of working effectively, and where barriers and glass ceilings continue to be broken by a more productive and confident workforce.

As investors, we must watch these developments closely. I strongly believe that companies that respond positively to such trends will be much better placed to earn the trust of their employees, customers and communities. The Chamber of Commerce can help in that regard by encouraging neighboring governments to facilitate remote working, allowing people to be more flexible and productive when working from home.

Photos : Emmanuel Claude/ Focalize

Quintet Private Bank – founded in Luxembourg in 1949, operates in 50 cities across Europe and is staffed by 2,000 professionals.

Widely recognized as a private banking leader, Quintet serves wealthy individuals and their families...

... , as well as a broad range of institutional and professional clients, including family offices, foundations and external asset managers.