The Pictet Group
Management
Partner - college
The Pictet Group is a specialized asset management on Swiss private banker based in Geneva.
Pictet & Cie was founded in Geneva in 1805 and is organized in the form of a limited partnership with eight and severally liable liable for the liabilities of the bank shareholders.
The Pictet Group has offices in Amsterdam, Barcelona, Basel, Brussels, Dubai, Florence, Frankfurt, Hong Kong, Lausanne, London, Luxembourg, Madrid, Milan, Montreal, Nassau ( Bahamas), Osaka, Paris, Rome, Singapore, Taipei, Tel Aviv, Turin, Tokyo and Zurich.
History
The beginnings of Pictet & Cie date back to the founding of the Bank de Candolle Mallet & Cie on 23 July 1805. It was led by two partners, Jacob -Michel François de Candolle and Jacques -Henry Mallet, and had three limited partners, Jean -Louis Mallet, brother of the foregoing, Paul Martin and Jean -Louis Falquet. The bank was located until 1819 at the Cour St- Pierre in Geneva's Old Town. 1841 appointed the childless Candolle the nephew of his wife as his successor: Edouard Pictet. Since this name is closely connected with the bank. A total of nine times, the Institute changed its name and was called until 1926, Pictet & Cie.
After a relative stagnation, which was marked by two world wars and the severe economic crisis of the 1930s, the Bank expanded from the 1950s. Since the 1970s, Pictet works with independent asset managers and their clients together worldwide and offers a range of services.
The Department of Pictet Alternative Investments (PAI ) was founded in the early 1990s. She is responsible for the selection of hedge funds and private equities, both for its customers and for its own funds. Pictet issued its first fund of hedge funds in June 1994.
2006 moved the bank into the offices of the new headquarters on the Route de Acacias in Geneva industrial district.
With assets under management of around 428 billion Swiss francs at the end of 2007, Pictet & Cie was the largest private bank in Switzerland and in terms of assets under management, behind UBS AG and Credit Suisse, the number three in Switzerland.
On 9 May 2011 sued Irving Picard, trustee for the liquidation of Madoff Investment Securities, the bank in a class action lawsuit to 156 million U.S. dollars in damages. According to Picard had occurred in investments from Bernard Madoff to irregularities and the banks should have been aware of it. Pictet denies having ever selected or recommended funds, which would have had to do with Madoff's company. Pictet Madoff Investments has held only as a custodian for third parties on a small scale.
Divisions
The management of private assets ( Wealth Management ) is for 200 years, the core business of the Bank; it includes management and individual counseling for individuals and family office and global custody.
The Pictet Asset Management ( Asset Management ) includes all subsidiaries and divisions of the Pictet Group that operate in the active or passive institutional asset management.
Pictet Funds S. A. is 100 % owned by Pictet & Cie and was founded in 1997 as a fund sales and management company of the Pictet Group. Pictet Funds distributes more than 100 mutual funds, including equity, bond, specialty, sector and thematic funds. In addition, the Bank provides services in connection with the establishment, administration, custody, management, monitoring and distribution of investment funds.
Pictet provides a consolidated overview of more than 80 markets and kept at several institutes and managed systems.
Prix Pictet
2008, the Bank launched the Prix Pictet, a photography prize, dedicated to the theme of sustainable development.
Criticism
In July 2012, the bank was accused in a report of the news magazine Der Spiegel, they offer tax savings on millionaires for German and thus bar a contribution to tax evasion. In an already cited in the Spiegel article opinion, however, Pictet writes that the appropriate gold investments were not even marketed actively to customers. Not least, the tax harmlessness of these investments is emphasized by another statement in the same article. Various legal opinions from renowned law firms had attested to this. In the same context, the response of the Federal Government in June 2012 is available on a " small request " several Members of Parliament to tax planning models using the progression proviso particularly in gold. The federal government subsequently confirmed that the present facts do not constitute a design abuse. Already in January 2012 had Nicolas Pictet, who is also president of the Swiss Private Bankers Association, criticized the world's increasingly stringent regulations, strengthening the competitiveness of the financial center Switzerland was threatened.