The clients being targeted are those in Asia who, for reasons of geopolitical stability and diversification, want to use the Alpine state as their booking centre.

Pictet has confirmed that it intends to open an Asia desk in Zurich to serve clients from Southeast and North Asia, with a team of people starting work from early in the New Year.

Pictet Wealth Management will create a group to serve Asian clients which will run alongside its centres in Singapore and Hong Kong.

This news service saw a report on the matter in finews.asia and a spokesperson confirmed details. 

The bank is hiring three team members, including Xiaodan Predeoehl, its head, from Lombard Odier. Michael R Strasser is based in Zurich; Olive Ma will move to Zurich from Hong Kong. Other team members are also joining.

The report said the desk will serve Asian clients who want Switzerland as a booking centre.