Quintet Private Bank has opened for business in Switzerland following the acquisition of Zurich-based wealth manager Bank am Bellevue.
The news comes several weeks after group chief executive Jürg Zeltner passed away at the age of 52.
Quintet said it will seek to “expand Bank am Bellevue’s base of domestic and international clients”.
The Swiss operation is “actively recruiting additional staff” to double its current headcount of 40 over the next 12 months.
It will be run by the chief executive of Quintet Luxembourg, Emmanuel Fievet, who joined the private bank in October 2019 from Edmond de Rothschild.
“The launch of Quintet in Switzerland is a milestone for our firm,” said Jakob Stott, group chief executive at Quintet Private Bank, who took over from Zeltner in March.
“Even as we continue to invest in great people, geographic expansion and long-term growth, we will keep our eyes firmly fixed on the real prize, which is doing the right thing for the individuals and families we serve.”
Quintet, which was previously named KBL European Private Bankers, also said that it will open its first branch in Copenhagen in 2020, subject to regulatory approval.
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