Pictet & Cie
That Pictet & Cie qualifies on these grounds is testament to the Swiss boutique’s ability to balance specialisation and scope, offering clients a range of asset classes including some which go beyond the traditional forte of pure-play banks, such as real estate and commodities.
Asian Private Banker views Pictet’s independence from external links – which may otherwise influence the bank’s product or service offering – as a core facet of its proposition to clients. Indeed, 80% of the funds in the private bank’s model portfolio are non-Pictet funds, a reliable measure of its independence, which according to Jacques de Saussure, a Switzerland-based senior partner at the bank, is a central tenet at Pictet & Cie. “Independence lies at the heart of our business and our ability to manage our clients’ assets without distraction,” he explains.
Yet Pictet’s independence does not come at the cost of stability. It is, at present, the only bank of its size to be awarded an AA- credit rating with a stable outlook. Pictet also has a high Tier I ratio (16.9% at the end of 2011). For these reasons, Asian Private Banker considers Pictet & Cie to be this year’s preeminent boutique bank in Asia, and the worthy winner of the Asian Private Banker Best Boutique Private Bank award for 2012.