Luxembourg private banking group Quintet is setting up a new team dedicated to markets in Asia after previously opening branches in Switzerland and Denmark.
Asia is the “world’s fastest-growing wealth management market,” the bank said in a press release. It has hired Jing Zhang Brogle as Market Head, Asia International, who will help build a team of client advisors for the continent.
Zhang Brogle--who is Swiss-Chinese--previously served as director at Edmond de Rothschild Family Advisory in Hong Kong and as CEO of the Swiss bank’s Hong Kong branch.
“Quintet’s ambition is to build scale over time to become the world’s leading boutique wealth manager--and the most trusted fiduciary of family wealth,” said Emmanuel Fievet, CEO of Quintet Switzerland in the press release.
Quintet opened its Swiss branch in May this year, following up with the Copenhagen branch in October aiming at acquiring high-net-worth clients in Scandinavia and the Nordics.
Credit Suisse in its 2019 Global Wealth Report estimated that 22,660 ultra-high-net-worth individuals are based in the Asia Pacific region, excluding China and India. China alone counts another 18,130 UNHW individuals, with India at 4,460.