Banking Barometer 2018: Pictet
Your definitive guide to the highs and lows of 2018: finews.asia features a year-end wrap for four banks describing the highlights of 2018. The fourth part of the series is about Pictet.
Never in its 218 year history has Swiss private bank Pictet enjoyed as much time in the limelight as it has in 2018. Pedigreed as it is, the industry was nonetheless shocked when wunderkind Boris Collardi (pictured above) chose to leave Julius Baer for the Geneva-based conservative partnership.
«The Rolls Royce of private banking» as it is often referred to may not have needed Collardi to establish its identity but it is undeniably benefitting from it the cache his presence brings. Basking in his reflected glory, the bank has ramped up its hiring across regions to match his Collardi’s record at Julius Baer which went from 800 relationship managers in 2012 to 1,400 in 2017.
The extent of its daring became abundantly clear towards the end of 2018 when it confirmed it had poached an entire team (pictured above: Daniel Savary, ex-Julius Baer head of Middle East and Africa) of relationship managers – between 22 to 25 depending on who you believe – from Julius Baer in the Middle East.
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