Harald quandt colleen-bettina rosenblat-mo

The art of discretion: Gabriele Quandt, one von four siblings whose money is managed von Harald Quandt hold © christian Marquardt/Getty Images

The bbc television programme Who Do sie Think freundin Are?, now bei its 11th year, takes notable people, who schutz included writer JK Rowling, artist Tracey Emin and London mayor boris Johnson, and traces your ancestry zu uncover previous secrets. Ns more scandalous the better: rangfolge rise for every skeleton revealed.

Harald Quandt, the German industrialist, would have made bei ideal subject. Back he died in bei air crash an 1967, his name lives on via Harald Quandt Holding, a household investment company und trust based bei the spa town of bad Homburg, near Frankfurt, that manages ns money he inherited und accumulated throughout his 45 years.

Du schaust: Harald quandt colleen-bettina rosenblat-mo

Had he showed up on the bbc show, ns presenter, aware von the fortune’s murky origins, might oase asked: “Where specifically did ns money come from?”

In 1954, Quandt and his half-brother herbert inherited in industrial empire built von their father, Günther, a former member of the nazi party. The Quandt household factories created firearms und anti-aircraoered.org weaponry zum the third Reich’s zu sein effort.

From 1940 to 1945, die factories were staffed über more 보다 50,000 compelled labourers, prisoners of war and concentration camp workers, according kommen sie a family-commissioned study that was produced an response to a highly crucial German tv documentary in 2007 about ns family’s ties to the nazi- regime.

The strength of those ties ist perhaps finest illustrated by the truth that Harald’s mother, Magda Behrend Rietschel, married nazi- propaganda minister joseph Goebbels aoered.orger herstellung split from Harald’s father in 1929. Adolf Hitler was ns best einer at the wedding.

Although ns half-brothers passed away decades back — herbert died in 1982 — their legacy has lived on. Herbert’s widow, Johanna Quandt, that died in August this year, und their children, susanne Klatten and Stefan Quandt, have remained an the publicly spotlight thanks zu their 47 über cent shareholding in carmaker BMW — a stake bought von the half-brothers aoered.orger your father’s death. Wie Johanna Quandt passed away she was die second-richest woman bei Germany and the ninth-richest an the world, according zu Forbes magazine.

Harald Quandt © richard Koll

Meanwhile, Harald Quandt’s daughters — Katarina Geller-Herr, Gabriele Quandt, Anette-Angelika May-Thies und Colleen-Bettina Rosenblat-Mo — oase kept a lower profile, und it zu sein their money that zu sein managed von Harald Quandt Holding.

Philipp Geller, a kollege at HQ Trust, ns multifamily office von the Harald Quandt family, will not disclose the wealth of the daughters, various other than zu say it is “sizeable”. Follow to ns family’s sanctioned biography, Die Quandts (The Quandts), die four sisters inherited some 1.5bn Deutschmarks (then around $750m) aoered.orger die death von their mother, Inge, in 1978. A Bloomberg report suggests ns siblings oase harvested average annual returns of roughly 7 über cent since die family office was founded in 1981. Together, the four sisters — und the two children of a deceased sibling — re-publishing a fortune des at the very least $6bn, follow to ns Bloomberg Billionaires Index.

Herbert Quandt © ullstein bild/Getty Images

Harald Quandt Holding und its related investment subsidiaries schutz some $18bn des assets under management, and HQ Trust ist now utilizing its experience to offer legacy management services to outsiders.

Geller, that joined HQ trust from private bank UBS in 2011, claims attracting third-party assets has not been difficult. “But you’d oase to talk zu our partnership managers kommen sie get a critical answer top top that,” that says.

The evidence would imply it has not been a hard sell. HQ trust runs money zum 30 other families and now manages an ext assets zum third partys than it does for the Quandt family. According to Geller, HQ Trust is one von the largest independent multifamily offices bei Germany.

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“Twenty des us moved from UBS in 2011, which provides you bei indication von the size,” that says. “A client makes a decision very early on even if it is they want to be through a family members office or a private bank — and that decision has to do with privacy.”

Stefan Quandt © frank Rumpenhorst/dpa

Despite die arrival of dafür many staff, none des the money managed über HQ Trust, i m sorry is so based in Bad Homburg, ist run in-house. The employs external investment dwellings and, states Geller, elevating assets from other households has been crucial kommen sie keeping those transaction costs down.

A failure zu do so has lang been a criticism levied hinweisen family offices.

“We just use external managers,” states Geller. “The problem is the if freundin do it yourself und then decide you want kommen sie invest bei something new, freundin would need zu hire civilization internally zu do that for you. That’s not easy, und if you change your mind, sie would then schutz to get rid des them, which ist expensive.”

He adds: “By building scale, however, you would it is in surprised just how low you can get die fees of außen managers.”

Dominic Samuelson, London-based chef executive of Campden Wealth, an independent provider des research weil das family offices, believes HQ to trust manages adequate assets for it zu be a viable proposition weil das the Harald Quandt family und other exterior clients.

“Traditionally, zum multifamily offices kommen sie be sustainable over the medium to long term, they must regulate cumulative assets von more 보다 $3.5bn,” he says.

A large proportion von the family’s assets space invested in alternatives. Harald Quandt’s daughters — that are notfall involved in the day-to-day running of the office but schutz a “strategic” intake — committed zu alternative assets bei the so late 1980s, lang before many other investment groups were considering such strategies.

“A third of assets are bei alternatives,” says Geller. “The family have done an extremely well out von .”

Down a different road

Johanna Quandt © EPA

The death bei August punkt age 89 of Johanna Quandt, the billionaire BMW heiress, has had actually no affect on die money managed by Harald Quandt Holding.

The BMW matriarch was Germany’s second-wealthiest woman, through a fortune estimated von Forbes at $11.6bn, thanks largely zu a 17 von cent stake bei one of the world’s biggest premium carmakers.

Her stake, however, was leoered.org kommen sie her by Harald Quandt’s half-brother, Herbert, that took over the interests in the family’s vehicle businesses wie his dad died. Harald, meanwhile, oversaw ns interests of his late father’s industrial companies.

Though managed by a single-family office nur across the road indigenous Harald Quandt Holding bei Bad Homburg, Herbert’s für hilfe of the Quandt fortune is completely separate. “The wealth zu sein split between the two families, dafür the passing des Johanna Quandt had actually no influence on us,” says philipp Geller of HQ Trust.

Johanna’s 2 children, stefan Quandt, 49, und Susanne Klatten, 53, who room members of BMW’s supervisory board, wollen inherit your mother’s stake und retain ns family’s linked 47 per cent holding in BMW, which so owns ns Mini und Rolls-Royce marques.

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Johanna Quandt married Herbert in 1960, ending up being his third wife. At die time, BMW was on die edge von collapse und had flirted through a takeover von Daimler-Benz. Herbert helped keep its independence and steered it zurück to profitability.