Thomas Klein (Quintet Private Bank): Banking Service Made In Luxembourg
Thomas Klein joined Quintet Private Bank at the end of last year as Group Head of Asset Servicing Europe, based in Luxembourg. He describes his team's ambitions and the reasons that led Quintet to participate in the Farad Finance Forum 2021.
Thomas, you joined Quintet Private Bank late last year as Group Head of Asset Servicing, Europe, based in Luxembourg. Can you provide an overview of what you do?
I lead a dedicated team focused on growing Quintet’s book of institutional and sophisticated private investors – including family offices, investment funds, corporates and private investment companies – that require global custody and execution services. We also offer asset-servicing capabilities to wealthy individuals and families, working in close collaboration with our colleagues in Wealth Management to service relevant clients holistically, always reflecting their specific needs. Asset Servicing & Financial Intermediaries (FIM) is one of the pillars of Quintet, which was founded in the Grand Duchy in 1949 and operates in 50 cities across Europe, staffed by 2,000 professionals. Based in Luxembourg, I serve at Quintet Europe, which encompasses all of our European Union-based branches, allowing clients to benefit from a one-bank approach.
“Based in Luxembourg, I serve at Quintet Europe, which encompasses all of our European Union-based branches, allowing clients to benefit from a one-bank approach.”
Can you tell me about your team and service offering?
Within Asset Servicing & FIM, our Business Development team is the first point of contact for our future clients, with its desks of multilingual, highly experienced specialists who have in-depth knowledge of client needs, whether the client is a financial intermediary, external asset manager, fund initiator, bank or insurer. We provide small and medium-sized banks with access to financial markets, financial intermediation and global custody services. We offer the full range of custody services for all asset classes including alternative assets. In addition to this, we have recognized excellence in third-party funds execution and precious metals safekeeping. Across Quintet Europe, we leverage the strength of the group to develop solutions for such clients. That includes state-of-the-art digital onboarding tools and digital brokerage solutions, as well as ongoing expansion in private assets custody solutions.
Why was it important for Quintet to participate in the Farad Finance Forum?We participated in the 2020 Forum as an Event Partner and look forward to doing so again. As the pace of vaccination accelerates and the world reemerges from lockdown, we are especially eager to be able to interact with key stakeholders in the sustainability space. Sustainability has taken center stage at our firm, which is a signatory to the United Nations-supported Principles for Responsible Investment and a member of Climate Action 100+. In 2020, Quintet committed to making sustainable investing its default approach and, to that end, initiated a transformation program across the investment and operational value chain. At the same time, we ensure that sustainability flows through all aspects of our business. That is why Quintet has set out a framework for a more sustainable future, which draws on industry leading reporting standards and ensures that, as a firm, we are always aligned with our clients, our people and our stakeholders.
Thomas Klein, Group Head of Asset Servicing Europe, Quintet Private Bank