Private bank Quintet said Juerg Zeltner passed away on Sunday of an undisclosed illness. He is survived by his wife and two children.

The 52-year-old had last May resurfaced at the Luxembourg lender with plans to invest and revive the Qatari-owned bank. The bank was to have been Zeltner's second act after more than 30 years at UBS, where he began his career as an apprentice. 

Crisis-Tested Banker

Quintet, formerly known as KBL, said wealth management boss Jakob Stott will take over. «Stott will ensure that Quintet continues to pursue its strategic plans – which remain unchanged and endorsed by the Board and Quintet’s shareholders,» the bank said.

Zeltner was promoted to co-head of the UBS' wealth management unit in 2009, and was instrumental in stabilizing the unit by stanching what eventually amounted to $200 billion in crisis withdrawals. He emerged at the center of CEO Sergio Ermotti's efforts to focus UBS around private bankin in a sprawling 2012 revamp before leaving shortly before a mega-merger. 

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