Pictet Reports AUMs, Making it the Third Largest in Switzerland

Stephen Harris

25 July 2005

Pictet & Cie, the Geneva-based private bank, said its assets under management totalled SFr250 billion , making it the third-largest bank by assets in Switzerland behind UBS and Credit Suisse. The figures were released by Pictet, which does not regularly disclose asset numbers, as part of its bicentennial celebrations. Non-listed Pictet, managed by eight partners, said it will preserve its independence and partnership model, under which the partners stand entirely and personally liable for the bank's commitments. Ivan Pictet, one of the partners, said that wealth management will remain the "bedrock" of Pictet's business.