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Switzerland’s Pictet, Bangkok Bank form wealth management alliance -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A Pictet sign with the family logo is seen at Pictet’s Geneva headquarters on May 7, 2012. REUTERS/Denis Balibouse

HONG KONG, (Reuters) – Pictet Group has announced that Bangkok Bank PCL and Pictet Group have joined forces to create a strategic alliance in wealth management for their clients in Thailand.

Pictet is a wealth management and asset management company based in Geneva. It said that it will provide international investment services to customers and have broader capabilities for all asset classes.

According to the joint statement of the two banks, Bangkok Bank was Thailand’s biggest bank in terms of total assets. Pictet, however, had assets worth $746 billion under management or custody as of the end June.

The statement stated that Pictet Wealth Management Asia chairman Claude Haberer, who has retired from the Swiss firm to become an advisor for Bangkok Bank’s president after he leaves the Swiss company, will be joining the bank in January.

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