Pictet Group’s assets rise 15% to record high in 2021

FILE PHOTO: A sign bearing the logo of family owned private bank Pictet is pictured at company headquarters in Geneva
FILE PHOTO: A sign bearing the logo of family owned private bank Pictet is pictured at the company headquarters in Geneva May 7, 2012. REUTERS/Denis Balibouse

February 9, 2022

ZURICH (Reuters) – Assets under management or custody at Pictet Group rose by 15% to a record 698 billion Swiss francs ($755.49 billion) last year amid strong markets and net new money inflows of more than 29 billion francs, the Swiss wealth and asset manager said on Wednesday.

Operating income at the Geneva-based group rose 13% to 3.25 billion, while net profit jumped 75% to 1.01 billion including an extraordinary gain from the sale and leaseback of its main building in Geneva.

The operating result, which excludes this one-off gain, rose 33% to 924 million.

Renaud de Planta, senior managing partner, called 2021 an excellent year given market conditions were very positive and assets reached an all-time high.

“We benefited from our clear focus on bringing investment leadership and bespoke services to our clients. This commitment will continue in 2022 with record investments in talent and technology,” he said in a statement.

($1 = 0.9239 Swiss francs)

(Reporting by Michael Shields; editing by Jason Neely)