Swiss private bank Pictet plans to open an Asia Desk in Zurich to serve clients from North and Southeast Asia. The new team of highly experienced professionals will commence in early 2025, finews.asia has learned.
Pictet Wealth Management will form a desk in Zurich to serve Asian clients, complementing its hubs in Singapore and Hong Kong, sources told finews.asia. A spokesperson for the bank confirmed the decision.
The move underscores Pictet's strategic importance to Asian markets. Three members of the new team, including the head of the unit, Xiaodan Predoehl, are joining from rival private bank Lombard Odier.
Switzerland as a Booking Center
The team will include two experienced relationship managers Michael R. Strasser and Olive Ma, who will relocate from Hong Kong to Zurich. It will also be rounded off by an assistant and an investment specialist, ensuring extensive investment expertise is readily available to clients.
The desk will serve Asian clients who value Switzerland as a booking center. Key demand drivers are geopolitical stability in the country, asset diversification and access to European investment expertise seamlessly integrated across time zones.
Tailored to the Needs of Asian Clients
Victor Aerni, CEO of Pictet Wealth Management in Asia (Image: VA)
«With the new Asia Desk, we have a highly qualified team on board that is tailored to the needs of our Asian clients,» said Victor Aerni, equity partner and Asia CEO of Pictet Wealth Management. «The combination of many years of experience, language skills, and a deep understanding of Asian markets puts us in a position to successfully tackle this market potential in the long term.»
Pictet's long-standing experience in succession planning and the stability of an owner-managed company make the group particularly attractive to wealthy clients who value cross-generational wealth management.
«We are confident that the new Asia Desk will unlock further growth potential for the Pictet Group,» the spokesperson added.
