Quilvest Wealth Management, a wealth management and family office group, has established its presence in Singapore as CBP Quilvest Singapore, through its Singapore subsidiaries, CBP Trust Ltd and CBP Wealth Advisory Ltd.
Quilvest Wealth Management is the result of a recent merger between the Compagnie de Banque Privee of Luxembourg and the wealth management arm of Quilvest S.A., a financial services company listed on the Luxembourg Stock Exchange since 1938. Quilvest S.A. (“Quilvest”) traces its roots to Otto Peter Bemberg, who in the 1800s had moved to Latin America from Europe and established various industrial interests including one of the largest beverage companies in Latin America. The descending families of Mr Bemberg, now in its 6th generation, still own shares of Quilvest S.A., which provides wealth management services to the families and its clients through entities in Paris, Montevideo and Zurich. Compagnie de Banque Privee (“CBP”), founded in 2006, with a pure wealth management focus, is owned privately by its management team, wealthy families and professional firms.
In December 2010, the merger between CBP and the wealth management activities of Quilvest was announced,based on the common vision and shared values of independence,impartial advice,transparency and the belief that private wealth management should be built on trust and long term performance. approved by the relevant supervisory authorities in May 2011.
In July 2010, CBP, together with the Singapore management team, established CBP Trust and CBP Wealth Advisory as a platform providing trust services, wealth planning and financial advisory services. CBP Trust obtained its Singapore trust license in November 2010, while CBP Wealth Advisory has exempt status for Financial Advisory and Fund Management. Singapore was chosen given that it is the wealth management hub of Asia, and for its political and financial stability. To reflect the new brand, CBP Trust and CBP Wealth Advisory will change their names to CBP Quilvest Trust and CBP Quilvest Wealth Advisory.
According to Marc Hoffmann, CEO of Quilvest Wealth Management, “This merger has extended our geographical footprint, and elevated us to the upper echelons of the client base. We are bigger in size, and now in Luxembourg, Switzerland, France, Singapore, and Latin America. We were looking at Asia to offer our clients the Asian option in terms of investment opportunities and wealth structuring, and it was good timing that we met the Singapore team.”
Singapore has been a preferred wealth management centre for many banks and high networth families, and constantly seeks to raise the value offering and standard of practices of the industry.
“Quilvest Wealth Management, has EUR9bn assets under management, and extensive experience and expertise in multi‐family office wealth management. Our team has always seen family office services as the final and most valuable piece to the wealth management puzzle, as families grow in wealth and require more comprehensive services, with structures held by trusts at the top” says Luke Peng, CEO of CBP Trust. “We are very proud to have CBP Quilvest in Singapore, being family office‐owned, offering family office services to our clients.”
Quilvest Wealth Management (“QWM”) is the merged business entity between Compagnie de Banque Privee (“CBP”) and the wealth management activities of Quilvest SA Luxembourg (“Quilvest”).
Compagnie de Banque Privee offers specialist private banking services and was founded in 2006 in Luxembourg by its current CEO Marc Hoffmann and the current Chairman of the Board of Directors Norbert Becker. CBP is also present in Paris through its subsidiary Fi Select, and recently established operations in Singapore to develop its activities in Asia. The CBP Group currently manages USD3bn.
Quilvest, listed on the Luxembourg Stock Exchange since 1938, is a global financial institution group with offices in major financial centres such as Paris, Zurich, New York, London, Hong Kong, Dubai and Montevideo. Quilvest established its Wealth Management activities in Zurich in 1932 and in Paris in 1913. The Group provides family shareholders and clients with wealth management and investment services through Quilvest Wealth Management and Quilvest Private Equity.
The Group has nearly USD16bn of assets under management, and is a leading global independent wealth and private equity manager dedicated to wealth preservation and generation.
The Quilvest Group originated from successful industrial operations at the end of the 19th century and is owned by the descending families of Otto Peter Bemberg. The family shareholding structure ensures the group’s independence in running its operations.
The new group, Quilvest Wealth Management, focuses on private wealth management and family office services with presence now in Luxembourg, France, Switzerland, Uruguay and Singapore. The group employs about 270 professionals with EUR9bn of assets under management and custody.
CBP Quilvest Singapore comprises the businesses of CBP Quilvest Trust Ltd and CBP Quilvest Wealth Advisory Ltd. CBP Quilvest Trust Ltd is a registered trust company licensed by the Monetary Authority of Singapore (“MAS”). CBP Quilvest Wealth Advisory Ltd is an Exempt Financial Adviser and Exempt Fund Manager. The group was established in July 2010 and employs 12 professionals.