Pictet obtains Hong Kong banking license
19 April 2012
News, Asia, Hong Kong
The largest independent Swiss private bank Pictet & Cie has announced that it has received a full banking license from the Hong Kong Monetary Authority (HKMA).
Pictet’s banking license in Hong Kong is the latest milestone in its growth and expansion in Asia. Over the last year, the firm has made a number of new senior appointments in Hong Kong and Singapore, including Sharon Chou, Head of wealth management for North Asia, Richard Mak, regional head of advisory services, and Anuj Khanna, head of wealth management for South Asia.
“This latest development will not only benefit our clients but also support our ongoing focus on hiring senior bankers,” said Claude Haberer, CEO of Pictet Wealth Management in Asia. “Bankers and clients recognise the unique partnership model of Pictet, one which is inherently independent of the potential conflicts of being part of a larger financial group.”
While Pictet is one of the biggest by assets under management and most stable banks in the world – AA- rated – it remains very specialised, focused only on wealth and asset management and fund distribution.
Pictet has been operating in Asia for over 25 years. Hong Kong will now serve as one of five booking centres globally, complementing regionally Pictet’s existing bank in Singapore.
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