Long-tenured Swiss German market leader Victor Aerni moves to a key growth market.
Geneva-based private bank Pictet is soon expected to announce Victor Aerni’s appointment as the CEO of the bank’s wealth management business in Asia, sources told finews.asia.
Aerni, who currently heads the Swiss German wealth management business, will switch to the new role in early July 2023. A statement on the leadership shift is expected to be released imminently.
The news provided also indicated that the current head of the business in Asia, Fong Seng Tee, will become vice-chairman of the board of directors of the regional subsidiary, Bank Pictet & Cie (Asia), which is currently chaired by François Pictet.
Equity Partner at Pictet
Aerni, 52, is an equity partner at Pictet and has been responsible for the Swiss German market since April 2009. According to the bank, he managed to develop the business into a market leader during that time.
Before joining Pictet, Aerni worked at Boston Consulting Group (BCG) for 16 years and possesses a degree in International Business and Economics from Sophia University, Tokyo. Related to his departure, finews.asia has learned that the bank is currently searching for a Swiss-based replacement for Aerni.
Significant Growth
Fong Seng Tee (image above) has over 30 years of experience in the industry and has led the business since July 2019. In that time, both the number of employees and the level of assets under management have increased markedly.
«We are very pleased to continue benefiting from his vast experience,» Marc Pictet, Managing Partner of the Pictet Group, indicated.
Extensive Experience
In addition to the appointments above, Evelyn Yeo, the current head of the Asia investments business, will be named Deputy CEO of the regional subsidiary. This step is being taken to support Sharon Chou, the entity’s CEO and head of the South Asia market.
Yeo will retain her function at the top of the Asia investments business. She has over 20 years of industry experience in a variety of leadership roles in investment offices, consulting mandates, and sales management. She was previously employed at Julius Baer and UBS.
