Pictet Group

The Pictet Group, known as Pictet, is a Swiss multinational private bank and financial services company founded in Switzerland. Headquartered in Geneva, it is one of the largest Swiss banks and primarily offers services in wealth management, asset management, and asset servicing, to private clients and institutions.

The Pictet Group employs more than 5,500 people, including 900 investment managers.[1] It has a network of offices in financial services centres, including registered banks in Geneva, Frankfurt, Nassau, Hong Kong, and Singapore.

Pictet does not engage in investment banking, nor does it extend commercial loans. According to its 2024 Annual Review, Pictet had CHF of assets under management or custody, with its total capital ratio significantly exceeding the levels demanded by Swiss regulators.[2] Banque Pictet & Cie SA is rated Prime-1/Aa2 by Moody's, and F1+/AA- by Fitch.[3]

Structure

Wealth management

Pictet Wealth Management provides private banking for owners of larger fortunes and family office services for families of exceptional wealth. The services include dedicated asset management, advice on strategy and investment selection, execution in global markets, safeguarding client assets, and continuous monitoring. For hedge funds, private equity, and real estate investments, Pictet Alternative Advisors, an independent unit, selects third-party investment managers to construct alternative investment portfolios for investors. Pictet Investment Office is a special unit within Pictet that only looks after the wealthiest and most sophisticated clients of the bank and invests their assets into liquid and illiquid opportunities, in public and private markets following a high-risk/return strategy across the capital structure.

Operating out of 22 Pictet offices worldwide, Pictet Wealth Management had CHF 277 bn of assets under management on 31 December 2024 and employed around 1220 full-time equivalent employees, including 361 private bankers.[14]

On 26 November 2012, it was reported that Pictet's wealth management unit was a target of the United States Department of Justice (DOJ), suspected of having aided tax evasion.[15] On 4 December 2023, Pictet concluded a final settlement agreement with the DOJ to resolve a legacy investigation relating to services provided by its private banking business to US taxpayer clients between 2008 and 2014. Under a three-year deferred prosecution agreement, Pictet agreed to pay a total sum of USD 122.9 (CHF 106.8) million, of which USD 38.9 (CHF 33.8) million is a fine.[16]

Asset management

Pictet Asset Management manages assets for institutional investors and investment funds, including large pension funds, sovereign wealth funds, and financial institutions. It also manages assets for individual investors through an extensive range of mandates, products, and services. It provides clients with active and quantitative support for managing equities, fixed income, multi-asset and alternative strategies.

Since 1997, the department has been developing Socially Responsible Investments (SRI). It now manages SRI core equity portfolios for all major markets. It has also taken a thematic approach, focusing on environmental themes or sectors such as clean energy and timber that are key to the concept of sustainability.[17]

Operating out of 18 Pictet offices worldwide, Pictet Asset Management had CHF 291 bn of assets under management on 31 December 2024 and employed around 1119 full-time equivalent employees, including 489 investment professionals.[14]

Asset services

Pictet Asset Services provides a range of services for asset managers, pension funds, and banks. These include fund services for institutional or private investors and independent asset managers; custody services in more than 80 countries; and round-the-clock trading across all significant asset classes by Pictet Global Markets. Fund services include setting up funds, administering them, and fund governance. With eight booking centres accessing the single global platform, Pictet Asset Services had CHF 234 bn of assets in custody on 31 December 2024 and employed around 224 full-time equivalent employees.[14]

founded	July 23, 1805
founders	Jacob-Michel-François de Candolle and Jacques-Henry Mallet
location	Geneva, Switzerland
area served	Worldwide
key people	François Pictet Laurent Ramsey Elif Aktuğ Raymond Sagayam Marc Pictet Sébastien Eisinger Sven Holstenson
industry	Private banking and financial services
services	Asset management, wealth management, investment funds, asset services and trading
net income	CHF
aum	CHF
assets	CHF
rating	Moody's: P-1/Aa2; Fitch: F1+/AA-
website	pictet.com

History

Structure

Wealth management

Asset management

Asset services

Prix Pictet

Tax misconduct

See also

References