Headquartered in Luxembourg and operating in 50 cities in Europe, KBL epb provides its high-net-worth individual (HNWI) clients deep, local insight and a broad perspective on managing their wealth across generations.
KBL European Private Bankers (KBL epb) was founded in Luxembourg in 1949 and is headquartered in the Grand Duchy. The group strives to be perceived as a trusted partner and leading private bank everywhere it operates.
With a range of historically important domestic private banks staffed by professionals with local knowledge, KBL epb builds on the heritage and track record of its network to offer its clients the best of both worlds: deep local insight and – thanks to its ability to share such knowledge – broader, pan-European perspective.
KBL epb stands apart thanks to client proximity, organisational efficiency and consistency over time, with an offering that combines investment management, financial planning and lending.
Providing tailored, one-stop-shop solutions for individuals, entrepreneurs and families, as well as institutions, family offices and external asset managers, the group’s mission is to preserve and grow each client’s wealth across generations – a long-term goal that reflects its partnership approach to client service.
New acquisitions strengthening KBL epb’s position
At a time when the European private banking market continues to consolidate, KBL epb is expanding its reach through a growth strategy that combines organic, semi-organic and external initiatives. In the past two years, the group has made four acquisitions in its existing markets, providing greater scale and resources.
Indeed, while 2016 was marked by global market turbulence – including a challenging interest-rate environment and increased regulatory burdens – KBL epb deepened its local presence through the acquisition of a leading Dutch private bank and a UK-based financial planning and wealth management firm.
Deepening its existing footprint in core markets, KBL epb acquired the Dutch private bank Insinger de Beaufort in the Netherlands – its third acquisition in 18 months – with the intention to merge it with Theodoor Gilissen (Dutch member of KBL epb), subject to regulatory approval. The combined Assets Under Management (AuMs) of the Dutch business will rise to over €20 billion, positioning the merged entity as one of the strongest pure-play private banks in the Netherlands. More recently, KBL epb acquired The Roberts Partnership, a UK-based financial planning and wealth management firm. Twenty staff and over €500 million in AuMs have been added to Brown Shipley, KBL epb’s UK affiliate, further supporting its mission to build and deliver a leading financial advice proposition for its clients. The 2015 signing of a long-term strategic partnership with Geneva-headquartered private bank, Lombard Odier will contribute to enhancing overall client experience as KBL epb upgrades its IT and operations infrastructure by migrating to a new platform, ensuring its network is strengthened and above all its status as a premier private bank in Europe.
Moreover, two major milestones were achieved last year: both Banque Puilaetco Dewaay Luxembourg, a boutique private bank in the Grand Duchy, and KBL Richelieu in France successfully migrated to the new platform on 1 January and 1 July, 2016, respectively. KBL epb then introduced the new platform at its headquarters on 3 July 2017.
Strength in depth
Over the same period, KBL epb reported a group core operating profit, including bond capital gains, of €37.1 million, while group revenues stood at €465.9 million. Private banking assets under management rose by €2.1 billion to €50.8 billion as of December 31, 2016, demonstrating the strength of the group’s core private banking activities across its pan-European footprint. Following the acquisition of Insinger de Beaufort – which was finalised on January 1, 2017 – group private banking assets under management rose to €60.5 billion as of that date. As of 31 December 2016, the group’s Basel III core tier-1 capital ratio stood at 16%, underscoring KBL epb’s strong solvency position. Based on the interdependence of its 50-city network, KBL epb invested significant effort last year in strengthening and consolidating the ties that bind it as a group.
The group’s standing as an industry leader has long been recognised by its peers. In 2016, KBL epb was extremely proud to be named the ‘Best Private Bank in Luxembourg’ at the PWM/The Banker Global Private Banking Awards.
Across its footprint, KBL epb seeks to grow its core HNWI client base, attracting Ultra High-Net-Worth Individuals (UHNWIs) by offering products and services tailored to their needs, and serving affluent clients through a highly efficient delivery model.
In its drive to maintain excellence, KBL epb has been strengthening its professional staff, enhancing its commercial organisation and ensuring the excellence of its private banking services.
The group also expanded its portfolio management service offering, launching the Richelieu Investment Fund range. The introduction of this mandate, supported by close cooperation between private bankers and portfolio managers, once again led to solid results in 2016.
Whether managing today’s wealth or structuring tomorrow’s inheritance, KBL epb clients benefit from a suite of open, independent solutions, tailored to their specific needs – backed by a client-centric approach, founded upon offering proximity, agility and personalised service.