BlackRock Boosts Qatar-Owned Quintet Private Bank’s Offerings to World’s Rich - Bloomberg
BlackRock Inc. is partnering with Quintet Private Bank to bolster the Qatar-owned firm’s investment services for rich clients as it ramps up expansion plans.
BlackRock will give Quintet access to a broader range of investment products, including an exclusive set of new funds for the Luxembourg-based private bank’s clients, according to a joint statement Thursday that didn’t disclose financial terms.
Quintet, which will retain control of its investing decisions, will also have access to the New York-based firm’s risk-management platform and receive allocation advice from the world’s largest asset manager, the companies said.
“This partnership helps us serve our existing clients but also grow market share in each market we operate in,” Quintet Chief Executive Officer Chris Allen, 53, said in an interview about the agreement, which is scheduled to be completed in the third quarter.
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