BANQUE PICTET & CIE SA Profile
Banque Pictet & Cie SA is a financial services organization based out of Geneva, Switzerland. The company can trace its history back to the establishment of Banque De Candolle Mallet & Cie in 1805 by Jacob-Michel-François de Candolle and Jacques-Henry Mallet, who, along with three limited partners, created the company as a partnership. The bank would begin with trading goods, but would soon abandon its origins to become focused on providing financial and advisory services. The company would continue to grow and would develop rapidly towards the end of the 19th century and into the 20th, suffering some stagnation during the depression of the 1930s and two world wars. In the 1960s, Banque Pictet & Cie would expand its business into institutional asset management, reaching 300 employees by 1980. Its business has continued to diversify and grow, opening new offices in Montreal and acquiring a seat on the Boston Stock Exchange. Banque Pictet & Cie SA, previously known as Pictet & Cie, currently operates under a partnership of 7 ownership holding managers. The company has a long term focus, which as been rated AA- by Fitch and Aa2 by Moody’s, indicating the bank’s very high credit quality. Banque Pictet & Cie has offices located around the world with 26 offices in leading financial centers and over 3,800 employees. Its line of businesses has expanded to include a variety of custody services, alternative investments, mutual funds, independent asset management, trading services, manager selection, advisory, reporting, banking, various governance, accounting, and pension planning services, focusing on private individual and institutional investors. Banque Pictet & Cie invests most heavily in the consumer discretionary sector, which alone makes up over a quarter of its total asset allocations, and also invests in the finance, health care, information technology, industrials, and consumer staples sectors, among other sectors to a lesser degree, in order of decreasing allocation.