Puilaetco Dewaay Luxembourg is a member of KBL European Private Bankers, which was acquired in 2012 by Precision Capital, a Luxembourg-based bank holding company that is supervised by the European Central Bank (ECB) and the Commission de Surveillance du Secteur Financier (CSSF).
Representing the private interests of members of the Al-Thani family of Qatar, Precision Capital holds 99.9% of KBL epb and 89.9% of Banque Internationale à Luxembourg (BIL), with the balance of the latter investment held by the Grand Duchy of Luxembourg.
While the ultimate shareholders of Precision Capital have made a range of other private investments – including in areas such as financial services and real estate – Precision Capital itself holds only the two assets mentioned above.
Registered and headquartered in Luxembourg, Precision Capital is a private – rather than sovereign – organization that seeks to capitalize on the attractiveness of the European private banking industry over the long term. A strong and committed shareholder, the firm seeks to grow KBL epb (and BIL), both organically and through M&A activity.
Highly supportive of KBL epb ’s vision, Precision Capital is focused on unlocking the full potential of the pan-European private banking group. That includes supporting the establishment of a leading presence in every market in which KBL epb currently operates.
The core management team of Precision Capital is led by George Nasra, the firm’s CEO, who also serves as Vice Chairman of the Boards of Directors of both KBL epb and BIL. A highly respected and internationally prominent banker, Nasra served for three decades at National Bank of Kuwait, then assumed the leadership of International Bank of Qatar immediately prior to his appointment at Precision Capital.
Nicholas Harvey serves as Deputy CEO of Precision Capital. Most recently Chief Risk Officer and Member of the Management Board at Amlin Europe, Harvey earlier advised banks and insurers across Europe for 10 years as a consultant with McKinsey. English by birth but raised in Belgium, Harvey graduated from Louvain University in Belgium and holds an MBA from Kellogg in the United States.