Stock Groups

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

by Mike Robinson

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© Reuters. FILEPHOTO: The Geneva company headquarters, May 7, 2012 is shown with a sign sporting the Pictet family-owned private bank logo. REUTERS/Denis Balibouse

ZURICH (Reuters – Pictet Group’s assets under custody or management rose 15% last year to a record 698billion Swiss francs (755.49 billion). This was despite strong markets and net inflows exceeding 29 billion francs.

Geneva-based Group’s operating income rose by 13% to 3.25 Billion, and net profit shot up 75% at 1.01 Billion. This includes an exceptional gain from its sale and leaseback in Geneva.

Operating results, which do not include this one-off profit, increased 33%, to 924million.

Renaud de Plana, the senior managing partner, claimed that 2021 was an outstanding year because of market conditions which were favorable and asset values at an all-time high.

Our clear focus on providing investment leadership and custom services to clients was a benefit. “This commitment will continue in 2022 when we make record investments in talent, technology,” he stated in a statement.

($1 = 0.9239 Swiss francs)

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