Quintet Private Bank has won two Highly Commended awards at the Private Banker International (PBI) Global Wealth Awards 2022 in the Outstanding Global Private Bank: Europe category and Best Bank for Sustainability and ESG leadership.
Headquartered in Luxembourg the boutique wealth manager operates in 50 European cities. Quintet serves wealthy individuals and their families, as well as a broad range of institutional and professional clients, including family offices, foundations, and external asset managers.
Its presence in Europe and continuing growth were noteworthy with total group income rising to €460.8 million (US$456.54m) last year, up 3% compared to €447m (US$442.86m) in 2020. Revenue growth rose to €348m (US$344.78m), an 11% increase compared to 2020, supported by higher fees and increased lending, which reached €4.5 billion (US$4.46bn), up 25%.
As of 31 December 2021, Quintet’s total client assets stood at €96.6bn (US$95.7bn), up 14% from the end of 2020, to stand at their highest level in more than a decade.
Sustainable Assets under Management (AuM) rose to €11.7bn (US$11.59bn) at the end of last year, nearly doubling from €5.9bn (US$5.84bn) at the end of 2020, helped by a series of partnerships, such as with German asset manager DWS, where Quintet acted as the seed investor unveiling in June 2021 two Xtrackers Exchange Traded Funds (ETFs). These give investors access to the rapidly growing market for green corporate bonds and are deployed by Quintet in discretionary portfolios, aligning with its environmental, social, and governance (ESG) agenda. Other partners include:
Robeco: A Dutch asset manager with whom Quintet was the exclusive launch partner on the unveiling of RobecoSAM US Green Bonds. These provide diversified exposure to the US green bond market, fuelling positive environmental impacts, while aiming to provide long-term capital growth to clients. €125m (US$123.8m) was initially committed.
Amundi: Quintet made €200m (US$198.2m) in client commitments to their Emerging Markets (EM) Green Bond, an offshoot of the asset manager’s Amundi Planet Emerging Green One, the world’s first EM only targeted green-bond, which was unveiled with the World Bank’s International Finance Corporation. Both investments were deployed in Quintet discretionary portfolios.
In Q1 2022, Quintet Earth was launched. This multi-asset, climate-neutral investment fund was launched with €280m (US$277.4m) in assets. It combines equal exposure to green bonds and low-carbon equities, offsetting associated carbon emissions through the purchase of carbon credits associated with reforestation activities – thereby supporting sustainable development and contributing towards the ESG strategy. The promise is to generate competitive long-term, risk-adjusted returns, while simultaneously combating climate change.
A partnership with The Royal Mint in the UK to introduce the use of recycled gold in an exchange-traded commodity instrument further demonstrates Quintet’s commitment to sustainability.