- BlackRock and Quintet Private Bank have partnered to strengthen the investment services offered to affluent clients of the Qatar-owned firm. BlackRock will provide Quintet with a broader range of investment products, including exclusive new funds for the Luxembourg-based private bank's clients.
- Quintet will retain control of its investment decisions while gaining access to BlackRock's risk-management platform and receiving allocation advice from the world's largest asset manager, based in New York. The financial terms of the partnership were not disclosed.
Why it matters
Quintet's recent move signifies its growth ambitions under Allen, a seasoned HSBC veteran who joined last year after a period of leadership turmoil. Precision Capital, representing Qatar's Al Thani family, controls Quintet, injecting over €350 million into the bank since its acquisition in 2012 for around €1 billion.
