Best Global Custodian Bank 2023

These surveys asked asset managers and other financial services clients to score their service provider, rating them on performance in categories such as corporate actions, reporting, settlement, safekeeping, and client service and account management. Pictet Asset Services ranked at the top position in the overall score for global custody services in both rankings in 2023, with significant mentions in tax reclaims, client relationship and settlement and safekeeping. As a global custodian, Pictet has consistently been ranked on the podium of leading worldwide industry surveys for over 20 years. The quality of our asset services is the result of several decades of experience.

In the private custody space, Pictet Asset Services had the pleasure of receiving recognition in two significant categories at the latest ASV-ASWM Custody Bank awards in Compliance and Reputation & Image categories. These prizes were a result of a thorough evaluation of custodians by 40 Swiss members (IAMs) managing over 1 billion CHF each, and totaling over 115 billion CHF in assets, highlights Pictet Asset Services' achievements. Receiving these prestigious awards demonstrates Pictet Asset Services' excellence in providing exceptional custody services to independent asset managers. Moreover, the recognition of Pictet's positive image and commitment to regulatory compliance also embodies the Pictet Group’s commitment to stability.

The awards were determined by votes from 500 participants, including Asset Managers, Wealth Managers, and Family Offices. They are a testament to Pictet's dedication to delivering exceptional service to investors. Our client partnership model and outstanding employees have contributed to our leadership in private custody within the Luxembourg banking industry.

The Pictet Group is sensitive to any activities, interests or relationships that might interfere with, or even appear to interfere with, its ability to act fairly and in the best interests of its clients, and puts long-term interests ahead of short-term gains. The Bank is committed to identifying and mitigating or avoiding potential conflicts of interest in its business activities whenever the potential for damage to clients arises, or the appearance thereof.

Pictet implements appropriate measures such as segregation of functions, internal directives, training, monitoring, management reporting, counterparty selection or outsourcing, adapted product design, client disclosures and/or contractual arrangements, client compensation or declining to act for a client. Every employee who believes that they, or the Group, are faced with a potential conflict of interest, is encouraged to proactively disclose and address it, or decline the corresponding business. Within the context of exercising our responsible investment activities, for example, we may face firmwide conflicts of interest when voting against management of a company who is a client, or whose pension scheme or senior management are clients of Pictet Wealth Management. Likewise, personal conflicts of interest may arise.

Every employee is responsible for identifying and escalating potential conflicts of interest so that they may be appropriately managed and resolved. All of our staff are required to undertake regular training to  ensure they are aware of their obligations and ad-here to this policy.