Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Pictet lifts veil of secrecy as it posts first ever results

Pictet lifts veil of secrecy as it posts first ever results

Pictet posted a net profit of CHF203 million (£133 million) in the first half of the year as the Swiss private bank published its results for the first time in its 209-year history.

Lifting the lid on the workings of the company, Pictet revealed its return on equity was 17.6% and its tier one capital ratio was a highly conservative 21.7%.

The private bank provided no past results as a comparison point and has only started to publish its numbers after converting from a unlimited liability partnership to a corporate partnership structure earlier this year.

Elsewhere, Pictet revealed that its leverage ratio is 5.4%, reflecting its balance sheet strength and cautious approach to lending to clients. In total, the private bank has CHF404 billion assets under management.

Pictet is one of several Swiss banks being probed by the US Department of Justice as it continues its investigations into American citizens using offshore banks to avoid paying tax.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter