Pictet Wealth Management

Company Profile

Pictet Wealth Management is part of the Pictet Group, a major Swiss multinational private bank and financial services firm that offers wealth management, asset management and asset servicing to private clients and institutions.

With a history stretching back more than 200 years, the Pictet Group currently has £590 billion in assets under management or custody, a presence in 30 financial centres around the world and more than 5,400 employees.

Pictet Wealth Management – present in the UK since 1980 – has £234 billion in assets under management, 22 offices worldwide and nearly 600 investment professionals who help private clients and family offices build their businesses, protect, grow and manage their wealth and preserve it for future generations.

History

In 1805, Jacob-Michel-François de Candolle and Jacques-Henry Mallet began a partnership in Geneva with initial capital of 125,000 livres argent de Genève – thought to be CHF30 million in today’s money.

Banque De Candolle Mallet & Cie, which started out in the goods trade, soon developed a speciality in currency trading and wealth management. When de Candolle died in 1841, Edouard Pictet joined the partnership – the first instance of the Pictet name within the bank, and one that continues today. 

Following a period of growth in line with the industrial revolution and political stability in Geneva, the bank was renamed to Pictet & Cie in 1926. To offset the effects of World War II, the bank diversified its activities, with interests in real estate, infrastructure, oil and shipping – and its first offices outside of Switzerland. It also was one of the first Swiss private banks to offer services to institutional investors. By 1980 it had grown from a medium-sized bank with around 70 employees to a private bank with 300 staff, and by 2005 it had over 2,000 employees, offering increasingly sophisticated investment and wealth management solutions.

During Pictet & Cie’s bicentenary year, the bank was admitted to the Henokiens Association, an association of the world’s oldest family-run businesses. There are only 50 members, all have been in business for at least 200 years, and all are owned by founders’ descendants.

In 2012, Pictet’s wealth management arm faced a US Department of Justice investigation into services it provided to US taxpayers; in 2023, the bank reached a final settlement agreement with the Department of Justice, paying $122.9 million.

Senior leadership

Pictet Group Senior Partner: Marc Pictet

Pictet Group Managing Partners: Laurent Ramsey, Sébastien Eisinger, Elif Aktuğ, François Pictet, Sven Holstenson, Raymond Sagayam

Chief Executive Officer of Pictet Wealth Management UK: Robert Suss

Private client services

Pictet Wealth Management’s offering is built on three pillars: investment solutions, wealth solutions and banking solutions.

Investment solutions

From multi-asset managed strategies to single-asset managed strategies to advisory mandates, Pictet offers a range of investment solutions for UHNWs, including equities, fixed income, currencies and alternative investments.

Wealth solutions 

Pictet’s wealth management solutions for individuals, families and charities are aimed at protecting and growing wealth and preserving it for future generations.

• Wealth planning: tax planning, including monitoring international legislation to stay ahead of changes; wealth structuring, using trusts, foundations, life assurance and/or investment funds; intergenerational and cross-border estate and succession planning; and managing the legal and tax implications of a relocation abroad
• Family advisory and family governance: defining roles and responsibilities for effective wealth stewardship and structuring to protect and preserve family wealth
• Philanthropy services: an advisory approach to guide philanthropic strategy – from structuring to mission-aligned investing solutions
• Private funds: consolidating wealth to provide economies of scale and portfolio protection
• Credit: flexible lending solutions secured against existing assets

Banking solutions

Pictet provides access to global custody and reporting services; a dedicated trading desk and execution capabilities covering equities, fixed income, foreign exchange and precious metals, structured products and derivatives; and a direct advisory team.

Locations

Pictet Group is present in 30 financial centres around the world. Pictet Wealth Management has 22 offices worldwide:

Switzerland: Geneva, Zurich, Lausanne, Basel

Europe: Barcelona, Frankfurt, London, Luxembourg, Madrid, Milan, Monaco, Munich, Paris, Rome, Stuttgart, Turin, Verona

Asia: Hong Kong, Singapore

Americas: Nassau

Middle East: Dubai, Tel Aviv