Pictet Asset Services, the asset servicing business line of the Pictet Group, has opened a booking centre for external asset managers in Monaco with a local presence of dedicated client relationship managers.
The new booking centre in Monaco adds to the network of locations currently available to external asset managers: Geneva, Zurich, Luxembourg, London, Paris and Madrid.
According to Marc Briol, CEO of Pictet Asset Services, this expansion represents an opportunity to develop long term relationships with investment fund managers based in the principality seeking high quality services.
Broil notes: “We are pleased to develop our activity in Monaco, in line with the Pictet Group’s commitment to the European market.”
Meanwhile, Alain Ucari, head of Pictet Wealth Management in Monaco, comments: “With a domestic market estimated at €110 billion in bankable assets, Monaco has become a popular international financial centre for wealth management over the years.”
“We are delighted to welcome Pictet Asset Services and join forces with them to further develop Pictet’s presence in the Principality,” adds Ucari.
The team will join Pictet’s banking branch in Monaco, which opened in February 2020.
In December, Pictet Asset Services launched an environmental, social, and corporate governance-dedicated website for third-party asset managers to help them navigate the upcoming EU Action Plan regulations for sustainable finance.
