Swiss private bank Pictet is undergoing changes in its eight-member board of partners, finews.asia learned.
Pictet Partner Rémy Best (55), is leaving Pictet Group's board of partners in April next year and will be replaced by Sven Holstenson (39), who will join the group's top management in May, according to an internal meeting held in Geneva on Tuesday evening.
Best, who has been with the private bank for 25 years, will join the supervisory body that oversees the Pictet Group and the board of directors of Swiss bank Banque Pictet & Cie as a non-executive member once he steps down from his current position.
«My decision to retire from the board of partners was made years ago, but I remain at home with Pictet,» Best said.
Independent member
During his time at Pictet, Best was in charge of several businesses including Pictet asset management, Pictet wealth management and technology & operations.
He played a significant role in Pictet's trajectory since 1997 and in growing the bank from 1,100 employees in nine locations with 100 billion Swiss francs ($101 billion) in assets under management to more than 5,000 employees in 30 locations with well over 600 billion francs in assets under management, the company said.
Overseeing Six European Offices
Sven Holstenson (39) will become the 46th member of the board of partners in the bank's 217-year history. Holstenson joined Pictet in 2012 as an analyst in the strategic projects department. In 2015, he moved to Pictet wealth management (PWM), where he held various roles before being named head of Europe for PWM in 2019.
In this role, he oversees six European offices with twelve locations and more than 250 employees. Business in the region has grown significantly under him, Pictet told finews.asia.
Former McKinsey Consultant
In addition to his management duties, Holstenson also serves ultra-high-net-worth clients throughout the region. He is a member of the executive committee of Pictet & Cie (Europe), the group's European bank, and was named an equity partner this year.
Prior to joining Pictet, he worked as a management consultant with strategy consultants McKinsey & Co. His appointment is subject to regulatory approval.
«Sven Holstenson has proven himself many times over at Pictet, not only in terms of results but also in how he achieved them – humbly and constructively with astute analysis and careful execution. He also brings an important element of the younger generation to the partnership board,» said Renaud de Planta, senior partner at Pictet.
