Pictet's Managing Partner announces his departure.

Boris Collardi is to step down from his role as managing partner of Swiss private bank Pictet and to leave effective 1 September. No reason was given for his departure.

As announced in June, Elif Aktu and François Pictet will join the Board of Partners on this date, pending regulatory approval.

The group also announced today operating income of SFr1.542 billion for the first half, up 16 per cent compared to the first half of 2020, total expenses before tax of CHF1,07 million (up 7 per cent) and a consolidated net profit of SFr636 million (up 142 per cent).

Assets under management or custody stood at SFr690 billion at 30 June 2021, compared with CHF609 billion at 31 December 2020. 

The unaudited net results include an extraordinary gain from the sale and lease back transaction that the bank executed during the first quarter on its main building in Geneva. 

The proceeds will allow Pictet to self-finance the construction of a new building in Geneva planned for 2025.