Quintet Private Bank: A brief history

Kredietbank Luxembourg is founded 1949. The five-person firm – led by CEO Constant Franssens – provides financial support to industry, commerce and the public sector in the Grand Duchy.

1960

1960s

Cold War intensifies & Europe enters economic golden age

First bond issue

First bond issue

KBL issues the first international bond loan in European Currency Units – a basket of currencies used by the European community as the unit of account before being replaced by the euro. KBL then frequently operates as a lead and co-lead manager for bank operations in the euro market

First international loan denominated in US dollars

First international loan denominated in US dollars

The Interest Equalization Tax is introduced, along with export restrictions imposed by American authorities, creating the perfect opportunity for KBL to increase its areas of operation. This year sees KBL’s first international loan denominated in US dollars

Financial holding company introduced

Financial holding company introduced

Initiated by KBL, the Luxembourg authorities allow for the creation of “financial holding companies,” a structure that facilitates the funding of numerous international industrial groups via Eurobonds

Constant Franssens appointed CEO

Constant Franssens appointed CEO

In 1966, Constant Franssens is appointed CEO, a position he would hold until 1988. From 1979-81, Franssens also heads the ABBL (Association des Banques et Banquiers, Luxembourg)

KBL engages in Eurobond trading

KBL engages in Eurobond trading

KBL begins playing an important role in the organization of the secondary Eurobonds market. It also becomes involved in the development and implementation of a settlement system for transactions in Europe

1970

1970s

Arab oil embargo shocks global economy & US experiences sustained stagflation

Founding of CEDEL

Founding of CEDEL

In 1970, KBL participates in the foundation of CEDEL (Centrale de Livraison Neutre et Indépendant), a securities clearing company that allows professionals to trade Eurobonds quickly and efficiently.

First-place ranking in Eurobond issues

First-place ranking in Eurobond issues

KBL strengthens its role as an issuer of Eurobonds. In 1974, its lead and co-lead managers are ranked number one for Eurobond issues

1980

1980s

Berlin Wall falls, Japanese asset price bubble rises & global markets collapse on Black Monday

First ECU loan granted

First ECU loan granted

KBL is at the forefront of the implementation of the ECU, a new European currency. It is the first bank to grant a loan in ECU, for an Italian telecommunications company

KBL invests abroad

KBL invests abroad

In a clear sign of the focus of the Luxembourg-based bank on future geographic expansion, KBL invests in Brown Shipley Holdings, parent of UK-based private bank Brown Shipley & Co, which is wholly acquired by KBL six years later

Jean Adant appointed CEO

Jean Adant appointed CEO

Jean Adant is appointed CEO of KBL. With significant expertise in finance and banking, he leads the long-term reorientation of the group, making private banking a pillar of its operations

1990

1990s

Dotcom bubble rises & Japanese asset price bubble bursts

Private banking becomes new pillar

Private banking becomes new pillar

With extensive experience in international wealth management, KBL decides to make private banking a new pillar of its operations. The bank implements a new strategy before beginning a busy period of European acquisitions, supporting growth and diversification

KBL acquires Brown Shipley

KBL acquires Brown Shipley

Brown Shipley & Co Ltd is acquired by KBL. Brown Shipley subsequently makes its own acquisitions of brokerage Cawood Smithie, private client investment manager Henry Cooke, and pensions and investment manager Fairmount Group Plc

Damien Wigny appointed CEO

Damien Wigny appointed CEO

Damien Wigny is appointed CEO of KBL and leads the bank until 2003. His broad talents and diplomatic skills are the driving forces behind the seamless development of the European private banking group

KBL acquires Merck Finck

KBL acquires Merck Finck

Merck Finck & Co, a leader in German private banking, is the next in a series of acquisitions made by KBL. With branches throughout Germany and a solid reputation among HNWI and institutional clients, this acquisition is a milestone in the development of the group

2000

2000s

Global financial crisis begins, dotcom bubble bursts & euro enters circulation

Etienne Verwilghen appointed CEO

Etienne Verwilghen appointed CEO

Etienne Verwilghen is appointed CEO of KBL. His deep knowledge of markets proves especially valuable during his leadership tenure at KBL, which lasts until 2010 and is marked by acquisitions in Belgium and France.

KBL acquires Theodoor Gilissen

KBL acquires Theodoor Gilissen

KBL further extends its geographic reach by acquiring Theodoor Gilissen Private Bankers, a highly regarded Dutch private bank headquartered in Amsterdam and founded in 1881

Quintet acquires Puilaetco

Quintet acquires Puilaetco

Quintet Private Bank acquires Puilaetco, a Belgian private bank founded in 1868; headquartered in Brussels, Puilaetco operates seven branches across the country.

KBL joins KBC

KBL joins KBC

Brussels-headquartered KBC Group, already a majority shareholder of KBL, wholly acquires the Luxembourg-based private banking group through a share buyback scheme

Launch of Global Investor Services

Launch of Global Investor Services

KBL’s Global Investor Services department is launched to provide financial services and investment solutions to meet the specific needs of institutional and professional investors

Kredietbank becomes KBL epb

Kredietbank becomes KBL epb

KBL is rebranded KBL European Private Bankers. The new name and logo reflect the bank’s pan-European vision and local roots

2010

2010

Emerging markets accelerate growth & global economy recovers

Founding of KBL España

Founding of KBL España

To establish a foothold in the very large Spanish market, KBL epb opens a subsidiary headquartered in Madrid known as KBL España and led by industry veteran Rafael Grau

Precision Capital acquires KBL epb

Precision Capital acquires KBL epb

KBL epb is acquired by Precision Capital, a Luxembourg-based bank holding company that is strongly supportive of the group’s long-term growth strategy

Acquisition of UBS Belgium

Acquisition of UBS Belgium

Quintet Private Bank’s Belgian affiliate, Puilaetco, enters into an agreement with UBS to acquire its Belgian operations. The acquisition adds substantial scale to Puilaetco, positioning it as a top three pure-play private bank in Belgium.

Acquisition of Hampton Dean

Acquisition of Hampton Dean

Brown Shipley, KBL epb’s UK affiliate, acquires Hampton Dean, a chartered independent firm of financial planners. This acquisition further strengthens the operations of Brown Shipley, particularly in the area of wealth planning, and expands its UK footprint to six cities, including Nottingham.

Acquisition of The Roberts Partnership

Acquisition of The Roberts Partnership

KBL epb’s UK affiliate, Brown Shipley, acquires The Roberts Partnership, a financial planning and wealth management firm with 20 staff and over €500 million in assets under management. The acquisition is in line with Brown Shipley’s strategy to build and deliver a leading financial advice proposition for its clients.

Launch of InsingerGilissen

Launch of InsingerGilissen

Following the closing of the acquisition of Insinger de Beaufort by KBL epb in January 2017, InsingerGilissen was born from the merger of Theodoor Gilissen and Insinger de Beaufort. InsingerGilissen operates in six cities in the Netherlands, employs over 300 staff and manages some €25 billion. A pure-play private bank, it offers a wide range of asset management, advisory, financial planning and administration, and custody services.

Jürg Zeltner appointed Group CEO

Jürg Zeltner appointed Group CEO

Jürg Zeltner is named Group CEO and member of the Board of Directors, and personally participates in the group’s long-term success through a significant co-investment. Zeltner previously served as President of UBS Wealth Management and member of the UBS Group Executive Board.

Acquisition of NW Brown

Acquisition of NW Brown

Brown Shipley acquires NW Brown & Co. Limited, a boutique wealth manager with over €1 billion in assets under management and some 75 staff in two UK offices. Founded in Cambridge in 1974, NW Brown provides financial planning and investment management services to wealthy individuals and their families, while also extending corporate solutions.

Return to Switzerland

Return to Switzerland

Quintet Private Bank announces the signing of an agreement to acquire Zurich-based Bank am Bellevue, the wealth management business of the Bellevue Group, subject to regulatory approval.

Entering the Nordics

Entering the Nordics

Quintet appoints its first CEO for the Nordics, marking the group’s upcoming expansion into the Northern European region, subject to regulatory approval.

KBL epb rebranded as Quintet Private Bank

KBL epb rebranded as Quintet Private Bank

KBL European Private Bankers changes its name to Quintet Private Bank, reflecting a deep, positive and ongoing change process, informed by new strategic priorities.

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Today

A once-small Luxembourg-based firm, Quintet Private Bank is today a leading private banking group, currently operating in 50 cities spanning Europe and with significant growth ambitions.

Everywhere we operate, we are guided by the same ambition: To earn your trust through an unwavering commitment to doing the right thing, growing and protecting your wealth as if it were our own.