Quintet Private Bank – the parent company of Brown Shipley – is reportedly closing its Swiss arm just 16 months after opening.
The Qatari-owned private bank acquired Bank am Bellevue last year.
The Luxembourg-based private bank is closing its Swiss business, which employs 87 staff members, according to media reports yesterday (12 October).
It is currently unclear whether the closure will happen via a wind-down or sale.
The private bank, which opened in May 2020 was impacted by the pandemic and was not able to build its business up as fast as anticipated, group chief executive Jakob Stott i...
