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, Trading |
| Total assets |
 CHF 436 billion (2016) |
|
Number of employees
|
3,886±0 |
| Capital ratio | 22.1% |
| 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 210 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 3,700 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 436 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.
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