Luxembourg-based Quintet Private Bank has launched operations in Switzerland after completing the purchase of Zurich-based Bank am Bellevue.

Under the agreement, Quintet absorbed Bank am Bellevue employees and its client relationships with CHF1.6bn in underlying assets.

“Quintet and Bellevue Group will now examine collaboration opportunities in the asset management business, specifically in the global healthcare sector where Bellevue Group is an international leader,” Bellevue Group said in a statement.

Through the business in Switzerland, Quintet will look to expand Bank am Bellevue’s domestic and international client base.

Its aim is to integrate a tailored approach with “independent, unbiased advice”.

The new Swiss business will be staffed by around 40 people, headed by CEO Emmanuel Fievet. Of these people, half earlier worked at Bank am Bellevue.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Plans are on to double the existing staff strength in the next 12 months.

Fievet noted: “I am very excited about building a new and different kind of private bank, which is small enough to be truly personal and big enough to offer access to the world,” he said.

“In partnership with my colleagues here in Zurich and across Europe, we will focus on what matters most to our stakeholders, cutting through complexity, embracing diverse perspectives and growing our business – one client at a time.”