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Home Headlines Chris Allen named Group CEO of Quintet Private Bank

Chris Allen named Group CEO of Quintet Private Bank

by Jessica Weisman-Pitts
Chris Allen Quintet Private Bank

Former HSBC Head of Global Private Banking, EMEA, to lead Quintet into next stage of its long-term growth 

Luxembourg; May 12, 2022: Quintet Private Bank, headquartered in Luxembourg and operating in 50  European cities, announced today the appointment of Chris Allen as Group CEO. Allen, who brings 30  years of financial services experience to Quintet, will assume his new role on July 1, 2022, subject to  regulatory approval.

Over the past 15 years at HSBC, Allen held a series of roles of increasing responsibility, including CEO,  Alternative Investments; CEO, HSBC Private Bank UK; and Head of Global Private Banking, Europe,  Middle East & Africa. In the latter capacity, he oversaw activities in 20 client markets across six  booking centers with some €150 billion in assets under management. Earlier in his career, he served  as Executive Director at Colliers Capital, where he focused on growing the firm’s fund management  business, and as Head of Real Estate Fund Management at a major Middle East bank.

Allen – a British national who holds a degree and investment diploma from Sheffield, City and  Cambridge universities – will lead Quintet into the next stage of its long-term growth. He will replace  Jakob Stott, who has decided to step down and will leave the firm following a brief transition.

Stott joined Quintet in 2019 and has overseen key projects such as the merger of Quintet’s EU-based  subsidiaries. Since then and primarily against the backdrop of the global pandemic, the European  wealth manager strengthened its core operations. That is reflected in the sustained rise in total client  assets, which grew from just over €72 billion at the end of 2018 to nearly €100 billion at the end of  2021.

Rory Tapner, Chair of the Board of Directors, said: “We are grateful to Jakob Stott for his thoughtful  leadership. Working in partnership with an excellent management team and drawing upon the skills  and insight of our 2,000 people, Jakob led the firm through uniquely challenging external conditions  and sharpened its client focus.

“At the same time, we are eager to welcome Chris Allen, who has earned a strong reputation in the  wealth management industry by consistently delivering results. He will apply his experience and  energy as he accelerates Quintet’s long-term growth – further strengthening our firm’s fundamentals  and driving the business forward with optimism and determination.”

“We thank Jakob for his service and for positioning Quintet for sustained success in the years to  come,” said George Nasra, Deputy Chair of the Board of Directors and CEO of Precision Capital. “Chris  will build upon that progress, bringing his extensive experience in every market in which Quintet  operates and applying his decisive leadership. Over the course of his distinguished career, he has  instilled a culture of achievement, leading with a pragmatic approach to solving problems, seizing  opportunities and earning client trust. Chris has the perfect combination of skills and experience to  lead Quintet rapidly forward.”

Chris Allen said: “After 15 wonderful years at HSBC, one of the world’s biggest banks, I am excited  about joining Quintet, an independent wealth manager that offers a unique combination of  international expertise and local knowledge – with an open-architecture approach that means client  interests always come first. I look forward to meeting my new colleagues, learning from their  experience and earning their trust. Together, we will continue to focus on meeting the needs of every  Quintet client – including individuals and families, institutions and professionals – and growing our  franchise.”

“I am very proud of the way our colleagues worked together in partnership – in the face of the  extraordinary external challenges – supporting our clients and strengthening our business,” Jakob  Stott concluded. “I want to thank all my friends and colleagues for their tremendous effort and  collaboration. And I would like to thank our Board and shareholder for their strong support. Finally, I  would like to thank the families we serve for the trust they place in our firm. I have no doubt that,  under new leadership, Quintet will continue to move forward and become an even better bank.”