Frank Ertel was appointed to the Quintet Private Bank Board of Directors in January 2021 as an employee representative from Quintet in Luxembourg, subject to regulatory approval. Ertel, who joined the bank in 1989, focused on securities for three decades, serving for nearly 25 years as a Senior Trader and Execution Officer in the Global Markets department. Chairman of Quintet’s European Works Council since 2016, he was elected as a permanent delegate at Quintet in Luxembourg in 2019. He earlier served as a Director from 2001-2017.
Marie-Christine Schlag was appointed to the Quintet Private Bank Board of Directors in January 2021 as an employee representative from Puilaetco in Belgium, subject to regulatory approval. She joined the bank in 1997 as part of the Execution-Only team, then served as a Business Analyst. She is currently a Senior Credit Officer. A graduate of the University of Liège and EHSAL Management School, with degrees in Economics and Management, Schlag has served as a member of the Puilaetco works council since 2012.
Jan Tomasek was appointed to the Quintet Private Bank Board of Directors in January 2021 as an employee representative from Merck Finck in Germany. He joined Merck Finck in 2008 and currently serves as a Senior Derivatives Trader. He has also served as a team leader on the Eurex desk, a client advisor and fund manager. The holder of a degree in Business Administration from VWA München with over 20 years of experience meeting client needs, Tomasek has served as a member of the Merck Finck works council since 2014 and was earlier a member of Merck Finck’s Supervisory Committee.
Quintet Private Bank was acquired in 2012 by Precision Capital, a Luxembourg-based bank holding company that is supervised by the European Central Bank (ECB) and the Commission de Surveillance du Secteur Financier (CSSF).
Representing the private interests of members of the Al-Thani family of Qatar, Precision Capital holds 99.9% of Quintet Private Bank.
While the ultimate shareholders of Precision Capital have made a range of other private investments – including in areas such as financial services and real estate – Precision Capital itself holds only the asset mentioned above. Precision Capital is a private – rather than sovereign – organization that seeks to capitalize on the attractiveness of the European private banking industry over the long term. A strong and committed shareholder, the firm seeks to grow Quintet Private Bank, both organically and through M&A activity.
Highly supportive of Quintet Private Bank’s vision, Precision Capital is focused on unlocking the full potential of the pan-European private banking group. That includes supporting the establishment of a leading presence in every market in which Quintet Private Bank currently operates.
The core management team of Precision Capital is led by George Nasra, the firm’s CEO, who also serves as Deputy Chairman of the Boards of Directors of Quintet Private Bank. A highly respected and internationally prominent banker, Nasra served for three decades at National Bank of Kuwait, then assumed the leadership of International Bank of Qatar immediately prior to his appointment at Precision Capital.