A private bank supported by Qatar is expanding wealth management services in Europe

One of the largest specialized banks in Europe, controlled by personalities of the ruling family in Qatar, intends to expand his partnership with Black Rock to improve its investment services. The Quint Private Bank Bank, based in Luxembourg, announced in a statement on Wednesday that its clients can now access investment in private and credit stock businesses, along with real assets, through a partnership with the global asset management giant “Black Rock”. Brian Crawford, head of investment solutions and clients at the Quinet Group, said the agreement gives the bank a complete authority to make assets tracking decisions, and to cover the first phase bank customers in Europe to include UK clients by the end of the year. “This partnership opens new horizons of opportunities, and we already have clients who have started investing.” Qatari support for hundreds of millions control by ‘Precision Capital’, a holding company owned by members of the Al Thani family in Qatar, on the ‘Quint’ bank, in which more than $ 350 million (equivalent to $ 407 million) has gained it for about a billion euro since 2012. The ‘Quint’ partnership with Black Rock began for the first time in 2023 to take advantage of other investment services, as part of the private bank’s attempt to overcome a period in which it suffered losses, led by new CEO Chris Allen, who came from HSBC, which was the total assets of the private bank customers. At the end of last year, a 16% increase compared to the end of 2022, and the Quintet Bank is currently working to strengthen job plans in Europe. Black Rock is also expanding its activities in Europe and utilizing the organizational changes approved last year, which facilitated individuals to reach private markets through ‘Evergrin’ funds, based in the New York company. The target of the rich in private markets focuses “Black Rock” asset management on private markets within its latest growth strategy, and recently launched a model investment portfolio to individual wealth management customers in the United States, including funds for investment in private equities and credit companies. The Quinet group was founded in 1949 and was previously known as “KBL”, and it contains within its network subsidiary companies such as “Brown Shipley” in the United Kingdom and Merck Finck in Germany, along with a number of companies that have designated the name of the group in other European countries within the framework of services.