Pictet has proven that, for family offices looking for a consociate capable of product-neutral, best-in-class investment advice, it is the private bank of choice. As a result, family office assets under management at the bank trump those at many of its larger peers. However, size of assets is neither the sole nor the most important criterion for the purpose of judging these awards, and Asian Private Banker was particularly impressed by the overarching commitment at the most senior levels of the bank to preserving family wealth and legacy across generations. Indeed, direct descendent and a Managing Partner, Nicolas Pictet, is in charge of the firm’s Asian subsidiaries and typifies the Pictet ethos of a “family-owned bank for business-owning families”.
Few private banks that can claim to have managed the fortunes of their own founding family for several generations, can boast the scale that Pictet can. It offers clients the advantages of both an organisational culture immersed in the dynamics of managing and preserving family wealth, as well as blue-chip products and services. The robustness of its investment advisory process, its ability to offer an “outsourced” chief investment officer function to family offices, coupled with its adeptness at encouraging a cross-pollination of ideas amongst the oldest family offices in the world, make it the worthy recipient of the accolade of Best Private Bank – Family Office Services in 2014.