Quintet Private Bank: A brief History

2024
2020s
2010s
2000s
1990s
1980s
1970s
1960s

2024

Celebrating the 75th anniversary
of our founding

A once-small Luxembourg-based firm founded in 1949, Quintet Private Bank is today a leading private banking group. Headquartered in Luxembourg, Quintet operates in 30+ cities across Europe and the UK and employs some 1,650 professionals.

Quintet serves high net worth individuals and their families as well as a wide range of institutional and professional clients, including family businesses, foundations and external asset managers.

Quintet Private Bank opened its doors for business in Denmark in July 2020. As part of its ambitious growth strategy, Quintet Danmark is now focused on meeting the long-term wealth management needs of Danish individuals and their families.

Our Mission

Quintet Private Bank’s wealth management approach is centered around personalized and holistic planning. They focus on understanding the unique needs and ambitions of their clients and how these might evolve over time

Tailored Wealth Planning: Quintet works with clients to create a wealth plan that goes beyond finances, addressing what really matters in every aspect of life. This includes passing on wealth, working with entrepreneurs, and ensuring peace of mind for a clearer future
Investment Management: Sustainability is at the heart of their business, and they aim to align investments with the client’s needs and objectives while also contributing to a better future. They start with a full suitability review before offering recommendations and actionable investment ideas
Discretionary Portfolio Management: Clients can opt to have their investments managed by Quintet’s advisors, benefiting from the research and views of their analysts and investment teams across their network of private banks and wealth managers2.
Lending Services: Quintet offers support with liquidity or additional funds when clients face unexpected opportunities or changes in circumstances
Charities and Philanthropy: They have a history of managing portfolios for charities, reflecting their commitment to social responsibility

Quintet’s approach is designed to be both tax-efficient and consistent with the client’s risk appetite, ensuring that their wealth planning and investment strategies are well-structured and thoughtfully executed.

2020s

A pandemic leads to global lockdown, Russia invades Ukraine & artificial intelligence enters the mainstream

2020

KBL epb rebrands 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.

2020

Quintet opens for business in Denmark

Quintet Danmark opens for business in Copenhagen, then expands to Aarhus, the country’s second-largest city, in 2021

2022

Chris Allen appointed Group CEO

Chris Allen – whose earlier roles include CEO of HSBC Private Bank UK – is appointed Group CEO of Quintet

2023

Quintet partners with BlackRock

Quintet announces a partnership agreement with BlackRock, the world’s largest asset manager, that will extend Quintet’s investment capabilities

2010s

Emerging markets accelerate growth & global economy recovers

2012

Precision Capital acquires KBL epb

KBL epb is acquired by Precision Capital, a limited liability company that is strongly supportive of the group’s long-term growth strategy

2014

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.

2015

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.

2016

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.

2017

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.

2000s

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

2003

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

2004

KBL acquires Puilaetco

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

2005

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

2008

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

1990s

Dotcom bubble rises & Japanese assets price bubble bursts

1990

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.

1992

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

1993

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

1999

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

1980s

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

1981

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

1986

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

1988

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

1970s

Arab oil embargo shocks global economy & US experiences sustained stagflation

1970

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.

1974

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

1960s

Cold War intensifies & Europe enters economic golden age

1961

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

1963

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

1965

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

1966

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)

1967

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

Quintet's family of private banks

Locally rooted and financially strong

Quintet Private Bank: A brief history

Our Mission

Quintet's family of private banks

Quintet Private Bank:
A brief history