People Moves
Change At Top Of Pictet As Senior Partner To Retire

A family member of the private bank is stepping down, and new arrivals have been announced, the firm said as it recently unveiled unaudited figures for 2018.
Pictet, the Swiss
private banking group, recently announced that a senior partner
of the family-run bank, Nicolas Pictet, is retiring on 1
September this year after having been a partner since 1991, and
that new partners would be joining. The announcement came last
week as the bank issued unaudited figures for 2018.
For the year ending 31 December, Pictet said that it logged a 5.7
per cent year-on-year rise in operating income reaching SFr2.666
billion ($2.662 billion), and a 4.1 per cent increase in
consolidated net profit of SFr596 million.
Assets under management or custody stood at SFr496 billion, down
a touch from a year before. There was SFr1.0 billion of net new
money. The result came during a year in which equity markets fell
and turned more volatile.
The core tier 1 capital ratio – a usual measure of a bank’s
financial strength - stood at 21.1 per cent.
Nicolas Pictet will remain chairman of the board of Banque Pictet
& Cie SA, the group's Swiss bank, and join the supervisory board
of Pictet & Cie Group SCA, the group’s managing entity, with
effect from 1 September 2019.
Renaud de Planta, who joined Pictet as a partner in 1998,
succeeds him as a senior partner. He is the second most senior of
Pictet’s seven partners. He has spent much of his career leading
Pictet Asset Management. Previously, he spent 12 years with UBS,
holding various management positions, including as CEO of UBS in
Hong Kong and North Asia. He has a PhD and a Masters in financial
economics from the University of St. Gallen and an MBA from the
University of Chicago.
Sébastien Eisinger, deputy CEO at Pictet Asset Management and
head of investments, will join the Pictet partnership with effect
from 1 April. He entered Pictet Asset Management in 1999 as an
investment manager on the fixed income team, rising to chief
investment officer for fixed income prior to his most recent
role. He began his career with Lazard Frères Gestion in Paris as
a quantitative analyst. He holds a DEA (Diplôme d’étude
approfondie) in statistics and an MA in mathematics from Paris
VII University.