Pictet posted a 16% drop in its consolidated net profits from the same period last year, while global assets under management and custody dipped slightly, according to the Swiss pure play’s unaudited interim results for 2016. Year-to-date, net profits for Pictet’s global private banking and asset management businesses fell from CHF225.9 million (US$231 million) to CHF190.8 million (US$197.9 million) – a drop of just over…
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