Pictet Group

Overview

Pictet Group, established in 1805, is a Swiss multinational private bank and financial services company headquartered in Geneva. It is one of the largest Swiss banks, primarily offering services in wealth management, asset management, and asset servicing to private clients and institutions. The group employs over 5,500 people, including 900 investment managers, and operates offices in financial centers such as Geneva, Frankfurt, Nassau, Hong Kong, and Singapore. Pictet does not engage in investment banking or extend commercial loans. As of December 31, 2024, Pictet had assets under management or custody amounting to CHF 724 billion, with a total capital ratio significantly exceeding the levels demanded by Swiss regulators. The group is rated Prime-1/Aa2 by Moody's and F1+/AA- by Fitch. Pictet's services include wealth management, asset management, and asset services, catering to both private clients and institutions. The group is known for its long-term investment approach and responsible business practices, emphasizing enduring quality and sustainability. In 2024, Pictet experienced a 31% drop in net new money, totaling 11 billion Swiss francs, compared to 16 billion francs the previous year. Despite this decline, the group's net profit increased by 15%, reaching 665 million francs, and assets under management grew by 14% to 724 billion francs, driven by rising stock markets. Marc Pictet, Senior Managing Partner, attributed the growth to excellent investment performance and positive market effects, highlighting clients' appreciation for the bank's investment capabilities and stability amidst industry and geopolitical volatility.

Investment Focus

• Long-term investment horizon
• Alignment with Pictet's responsible investment principles
• Focus on sustainable and high-quality assets

Portfolio Companies