Pictet has appointed a new management team for the bank's representative office in Dubai, media reports said. As part of the changes, Allard Lugard, head of wealth management for the Middle East, has relocated from Geneva to Dubai to take over responsibility for Pictet Dubai's wealth management services.

Lugard is responsible for managing client relationship teams in the Middle East and has over 20 years of experience in the private banking sector.

Omar Mirza has taken over from Francesco Genovese as head of Pictet Asset Management's business development activities in Dubai, with responsibility for the MENA region. In this capacity, Mirza is responsible for Pictet's regional asset management business, which provides advice to sovereign wealth funds, central banks, pension funds and other larger institutional investors.

Genovese has returned to Geneva after more than four years in Dubai to take up his new assignment as regional head for institutional business development for the Middle Eastern, African and Central Asian markets.

Kouroche Achtari has succeeded Thibaut Tosello as Pictet Dubai's registered representative with the local authorities. In addition, he is responsibile for developing the firm's wealth management business in the United Arab Emirates.