In 2019 we celebrated the 30th anniversary of our establishment in the Grand Duchy, 30 years of success that has only grown stronger over the decades.
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Our centre of expertise in the European Union
All of Pictet's Luxembourg entities in the Grand Duchy form the Group's main centre of expertise in Europe. As such, Luxembourg plays a crucial role as the European banking hub for Pictet's Italian, Spanish, French, German and UK offices.
From Luxembourg, Pictet's companies based in the Grand Duchy offer the full range of the Group's expertise to European clients.
|Pictet & Cie (Europe) SA||Wealth Management||Private wealth management|
|Asset Services||Institutional funds and independent asset managers|
|Trading & Sales||Trading services|
|Tech&Ops||IT, operations, logistics|
|Corporate functions||General secretary’s office, human resources, legal, finance, risk, compliance, supervision of delegated activities|
|Pictet Asset Management (Europe) SA||Asset management||Portfolio management|
|Pictet Alternative Advisors (Europe) SA||Alternative investment fund manager||Alternative investments|
|FundPartner Solutions (Europe) SA||Asset Services||Fund administration|
|Pictet Technologies SA||Information technology||Development and integration of IT solutions for the Group
Spearheaded by the Luxembourg site, the Group's European expansion has been achieved through the opening of various branches, including Frankfurt in 1999, Turin in 2001, Madrid in 2003, Paris in 2004, London and Munich in 2014, Stuttgart in 2017 and Monaco in 2020.
The scale of Pictet's activities in the Grand Duchy means that we are now one of the ten biggest players in the Luxembourg banking sector, while at the same time pursuing our traditional business of wealth management and custodian banking.
European branches of Pictet Luxembourg
- Frankfurt, opening in 1999
- Milan, opening in 2000
- Turin, opening in 2000
- Madrid, opening in 2003
- Paris, opening in 2004
- Rome, opening in 2005
- Barcelona, opening in 2007
- Amsterdam, opening in 2012
- Bruxelles, opening in 2012
- London, opening in 1980 (Luxembourg branch since 2014)
- Munich, opening in 2014
- Verona, opening in 2015
- Stuttgart, opening in 2017
- Monaco, opening in 2020
Message from Pierre Etienne Managing Director – Pictet & Cie (Europe) SA
Pictet has become a real heavyweight in the Luxembourg financial centre
Pictet Luxembourg has enjoyed 30 years of success, and that success owes much to Pictet's founding principles.
The Group is still run by Partners, both owners and managers, who are in charge of all the Group's business. Moreover, the methods of succession and transfer of capital between Partners have remained unchanged since 1805.
With no external shareholders, we have the independence of mind that enables us always to act in the interests of our clients. What is more, we have grown purely organically for more than 200 years, and we will continue to do so. We do not expand through mergers and acquisitions.
And it is also our long-term approach that makes us stand out from the rest. Our time horizon is not one quarter but rather a whole generation. This attribute has enabled us to weather all the recent crises. The Group's collegiate structure encourages a spirit of partnership, and we see ourselves as partners with our clients. It is up to us to understand them and to provide them with long-term solutions. This is essential to underpin our core business of managing private and institutional assets.
Today, the challenges linked to the fight against climate change have led the world of finance to think in terms of people, the planet and investment – dimensions that are inseparable in the long term. We are firm advocates of responsible investment and are committed to sustainable finance. An approach that integrates environmental, social and governance (ESG) criteria involves measuring and communicating the impact of investments. This is why we incorporate these criteria into our investment processes, risk management and reporting. We also take them into account in our economic research and financial analysis.
And Pictet’s future in Luxembourg looks just as rosy. We are in a successful financial centre that is conducive to doing business. We have a clearly defined business model and never deviate from that model.
A walk through Pictet Luxembourg
We have been investing in our employees for more than 200 years. What have we learnt? That our success, present and future, depends not only on those who have already been with us, but also on those who are joining us today.
Recruitment at Pictet Luxembourg
Our independence has enabled us to invest and develop our business for the long term and to adopt a unique approach to recruitment and human resources management.
We are looking for talented people in banking and non-banking areas such as human resources, legal, risks, compliance, finance, IT, security and logistics, and we are committed to their further training and development.
Also, in 2016 we created Pictet Technologies, whose role is to develop tailor-made IT solutions for the Group.
Pictet supports all volunteer initiatives at a local level, i.e. in the countries where the Group is present. A special programme has been set up to enable employees to take part in social and environmental projects, such as coaching job seekers. Some 200 Group employees around the world volunteered their time to help the community in 2019.
Diversity and inclusion
Pictet promotes a working environment that is open to diversity and where everyone has a place. All candidates with the required profile can take advantage of the professional opportunities offered, without criteria such as gender, race, age, religion, sexual orientation, disability, personality or socio-economic background being taken into account.
After passing the first level ("Assess") of the EDGE certification in 2019, Pictet has now reached the second level ("Move") for its measures to promote inclusion and gender equality. This additional step constitutes a remarkable achievement.
Diversity and inclusion are a strategic priority for Pictet, with the Bank's efforts focused on six areas: equality between men and women, ethnicity, people with disabilities, LGBTQ+, generations and socio-economic profile.
Flexible and modern ways of working
As a responsible and supportive employer, we offer employees several flexible working arrangements that are open to men and women. These include flexible hours, annualised part-time or unpaid leave; and since January 2020 new fathers have been entitled to 20 days’ paternity leave. In addition, we support the well-being and creativity of our employees through working-from-home arrangements, reflecting the evolution of our working environment.
“Our ambition is not to become the largest financial group. We want to be a responsible firm that we are all proud to work for.”
An inclusive work environment creates the right conditions for teams to flourish and be satisfied, in a place that encourages creativity and emulation.
This is why we want:
- to provide career opportunities and development opportunities based on merit
- to promote a culture of diversity and inclusion
- to strive for equal pay and equal opportunities, and we have a range of policies and practices in place to create an inclusive environment.
Our aim is to establish, in a spirit of partnership, responsible relationships with our clients, our employees, the community and the companies in which we invest, with a view to ensuring that assets of all kinds are preserved and handed down, and by putting ourselves at the service of the real economy.
The Pictet Group
Founded in Switzerland in 1805, the Pictet banking group is dedicated to wealth management, asset management and asset servicing. With assets under management of EUR 674 billion at 31 December 2021, Pictet is one of Europe’s leading independent wealth and asset management companies. The Group has its headquarters in Geneva and employs over 5000 people.
Discover some aspects of Pictet
Our guiding principles
The CompanyInside our guiding principles