Pictet & Cie

The Pictet Group

Industry	Private banking, financial services
Founded	23 July 1805
Founders	Jacob-Michel-François de Candolle and Jacques-Henry Mallet
Number of locations	26
Area served	Worldwide
Services	Asset management, Wealth Management, Investment funds, Asset services and Trading
AUM	CHF 478 billion
Number of employees	4,130
Capital ratio	20.4 percentage%
Rating	Moody's: Prime 1/Aa2; Fitch: F1+/AA-
Website	http://www.group.pictet

Pictet is a private bank and asset manager based in Geneva, Switzerland, since 1805. The Group ranks among Switzerland’s leading private banks and is one of the premier independent asset managers in Europe. It provides services in wealth management, asset management and asset servicing to private clients and institutions around the world.

Founded in Geneva in 1805, Pictet has operated as a partnership throughout its history. Over the past 212 years, there have been only 41 partners, each with an average tenure of more than 21 years. Today, it is organised as a corporate partnership of six owner managers who are responsible for the entire business of the Group. Significant growth has been achieved since 1805 without making acquisitions or floating on a stock exchange.

The Pictet Group employs more than 4,100 people, including 900 investment managers. It has a global network of 26 offices in financial services centres, including registered banks in Geneva, Luxemburg, Nassau, Hong Kong and Singapore.

Pictet does not engage in investment banking, nor does it extend commercial loans. According to the latest Annual Report, the Group had 478 CHF Bn of assets under management, with its total capital ratio significantly exceeding the levels demanded by Swiss regulators. Banque Pictet & Cie SA is rated Prime 1/Aa2 by Moody’s, and F1+/AA- by Fitch.

Pictet traces its origin to the foundation of Banque De Candolle Mallet & Cie in Geneva on 23 July 1805. On that day, Jacob-Michel-François de Candolle and Jacques-Henry Mallet signed, with three limited partners, a Scripte de Société (memorandum of association) to form a partnership. Like all Geneva banks at the time, it started out trading in goods, but soon abandoned trading to concentrate on assisting clients in their financial and commercial business and advising them on managing their wealth. By the 1830s, it held a broad range of securities on behalf of clients, to diversify their risks.