POLITICS & INSTITUTIONS - ECONOMY

KBL rebrands as Quintet



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Artist’s rendering of Quintet Private Bank’s HQ on boulevard Royal in Luxembourg, once the logo has been changed on the building, which is expected to be completed in the coming weeks. Image: Quintet Private Bank 

KBL European Private Bankers has changed its name to Quintet Private Bank.

The bank said in a press release on 16 January:

“The group’s new name and corporate identity – which were unveiled today – have been 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.”

Quintet Private Bank said it rebranded to mark a shift in its development and strategy. “It’s not just a change of name,” Colin Price, group deputy chief executive, told Paperjam. “We really want to emphasize that the group is going through an important transformation phase.”

The bank was founded in 1949 in Luxembourg, operates in 50 cities across Europe and employs 2,000 staff, according to its website.

In its latest annual report, it reported private banking assets under management of €39.5bn (compared to €45.3bn at the end of 2017), assets under custody of €26.5bn and institutional assets under management of €6.6bn as of 31 December 2018. It reported 2018 group-wide net consolidated profit of €0.8m.

The bank is owned by Precision Capital, an investment vehicle for Qatar’s royal family.