Pictet Group – Competitor Profile

Pictet Group Competitor Profile Overview

Headquartered in Geneva, Switzerland, Pictet Group is a corporate partnership offering wealth management and investment services in Europe, Asia, the Americas, and the Middle East. The group has 30 offices in 19 countries around the world. It has four divisions: Asset Management, Wealth Management, Alternative Advisors, and Asset Services.

The Pictet Group competitor profile report comprehensively analyzes Pictet Group’s private banking operations. It offers insights into the company’s strategy and financial performance, including key data on AUM. Customer targeting and service propositions are covered, as are product innovation and marketing activities.

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Pictet Group – Strategy

The Pictet Group competitor profile report covers key strategies in terms of company structure, stakeholders, global presence, active jobs, theme activity, company filings, and digital transformation and ICT spending, among others.

Company Structure: Pictet comprises four business units which are Asset Management, Wealth Management, Alternative Advisors, and Asset Services. Pictet Wealth Management offers wealth, investment, and banking solutions to wealthy individuals and families. It also offers financial and pension planning services to Swiss nationals.

Pictet Group Locations

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Pictet Group – Financial Performance

Owing to the turbulent economic environment caused by macroeconomic conditions and geopolitical tensions, Pictet’s operating revenues declined in 2022. This can be mainly attributed to a percentage fall in the net fee and commission income. Fees from securities trading and investment activities as well as fees from securities lending activities decreased. However, rising interest rates benefited the bank’s operating revenue, resulting in a surge in net interest income.

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Pictet Group – Customers and Products

Pictet offers services to high-end HNW and UHNW clients. Pictet’s Wealth Management division offers customized wealth solutions, private banking, online services, and discretionary mandate services. Customized wealth solutions include alternative investments, currencies, fixed income, equities, solutions for UHNW individuals, and multi-asset managed strategies. It also offers philanthropy services comprising the family constitution and philanthropy impact papers. Wealth management also offers tax and legal, wealth structuring, estate planning, business succession and sale, relocation, and financial product taxation. Credit comprises accumulating wealth through controlled private fund structures, while private funds offer flexible loan options for new ventures.

Pictet Group Customers and Products

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Pictet Group – Brand-Building Activities

Pictet carries out corporate social responsibility efforts across its markets via volunteering programs by employees and the Pictet Group Foundation. The foundation supports charitable organizations and public interest projects focused on nutrition, water, the environment, and education. In Switzerland, the foundation partners with non-profits in the field of humanitarian aid, the defense of human rights, education, disadvantaged youth, and the environment. It also supports the arts and cultural institutions in Geneva and Switzerland.

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Scope

• Pictet offers a wide range of wealth and investment services to HNW and UHNW individuals and families. It has four divisions: Asset Management, Wealth Management, Alternative Advisors, and Asset Services.

• The bank’s revenues declined marginally by 1.8% in 2022 due to adverse market conditions, while its pre-tax profit increased by 0.6%.

• Pictet has a strong presence in Europe, particularly in its domestic market, Switzerland. In May 2023, the bank relocated its European headquarters from Luxembourg to Frankfurt, Germany.

• The bank’s offerings in responsible investment and environmental, social, and governance (ESG) have been a longstanding initiative. The Pictet ESG Scorecard and ESG Funds Due Diligence Questionnaire form the foundation of its existing ESG integration. In September 2022, Pictet Asset Services launched a new ESG risk report that allows external asset managers and institutional clients to monitor their portfolios’ ESG risks.

• Pictet has been investing in, managing, and advising on alternative investment portfolios since 1989. It currently manages more than $50 billion of client assets in alternative investments and continues to grow and launch new offerings in this space.

Reasons to Buy

• Examine the financial performance, key ratios, and AUM growth of Pictet and benchmark this competitor against other global wealth managers.
• Understand Pictet’s current strategic objectives and their impact on its financial performance.
• Discover Pictet’s key products and client targeting strategies and examine whether these have been successful.
• Learn more about Pictet’s marketing strategy, social media presence, and digital innovations.