The Pictet Group is a banking group specialising in wealth and asset management. Founded in Geneva in 1805, Banque Pictet has become one of Switzerland’s leading wealth management banks and one of Europe’s leading independent asset managers.
Since its foundation as Banque De Candolle, Mallet & Cie, the Bank has always been run by partners who have worked for an average of 21 years at the Bank; there have been only 43 such partners in over 200 years. It took its current name in the 1920s, and while the Grou’s holding company has taken the legal form of a limited partnership with shares since 2014, its banking business is carried out by subsidiaries that have taken on the status of public limited companies, effectively losing its Swiss status as a private bank. Its seven partners, who are both owners and managers, remain in charge of all the activities, which have grown since the beginning without acquisitions, mergers or recourse to the markets.
The group operates in 30 financial centres around the world, with banks in Geneva, Luxembourg, Nassau, Hong Kong and Singapore, and employs around 4 900 people, including 900 investment professionals. With a capital adequacy ratio well in excess of Swiss regulatory requirements, Pictet does not offer investment banking services and does not grant commercial loans.