Quintet Private Bank, the owner of Financial Planner and wealth manager Brown Shipley, has appointed experienced HSBC executive Chris Allen to be its new group CEO. 

He will replace Jakob Stott who has decided to step down and will leave the firm following a brief transition. 

Mr Allen has 30 years of experience in financial services and will take up his new role on 1 July, subject to regulatory approval.

During the past 15 years at HSBC, he has held a series of roles including CEO of Alternative Investments; CEO of HSBC Private Bank UK and head of global private banking, Europe, Middle East & Africa. 

Earlier in his career, he served as executive director at Colliers Capital, working on expanding the firm’s fund management business and as head of real estate fund management at a Middle East bank.

Quintet, which is based in Luxembourg and operates in 50 cities across Europe, said Mr Allen, a British national who holds a degree and investment diploma from Sheffield, City and Cambridge Universities will lead Quintet into the “next stage” of its long-term growth. 

Mr Stott joined Quintet in 2019 and has overseen key projects such as the merger of Quintet’s EU-based subsidiaries. 

Rory Tapner, Quintet chair, said: “We are grateful to Jakob Stott for his thoughtful leadership. Working in partnership with an excellent management team and drawing upon the skills and insight of our 2,000 people, Jakob led the firm through uniquely challenging external conditions and sharpened its client focus. 

“At the same time, we are eager to welcome Chris Allen, who has earned a strong reputation in the wealth management industry by consistently delivering results. He will apply his experience and energy as he accelerates Quintet’s long-term growth – further strengthening our firm’s fundamentals and driving the business forward with optimism and determination.” 

Mr Allen said: “After 15 wonderful years at HSBC I am excited about joining Quintet, an independent wealth manager that offers a unique combination of international expertise and local knowledge – with an open-architecture approach that means client interests always come first. 

“I look forward to meeting my new colleagues, learning from their experience and earning their trust. Together, we will continue to focus on meeting the needs of every Quintet client – including individuals and families, institutions and professionals – and growing our franchise.”