Pictet is an independent investment partnership known for our long-term mindset, responsible approach to business and entrepreneurial spirit. These principles have defined us since 1805. For our clients, colleagues, and wider society, we always aim to do the right thing and honour our commitment to enduring quality.
Ratings of Banque Pictet & Cie SA
FitchRatings
- Long Term Issuer Default Rating (LT IDR): AA-
- Short Term Issuer Default Rating (ST IDR): F1+
- Viability Rating (VR): aa-
- Outlook: Stable
Extracts from the commentary
Banque Pictet & Cie SA (BPSA) is the Geneva-based main operating bank of the Pictet Group (Pictet). Its ratings are driven by the Group's stable wealth management-focussed business model, international brand recognition, conservative risk profile with little credit risk, strong profitability and robust capitalisation.
Pictet is one of Switzerland's largest wealth managers and an established asset manager. Its business model has generated a long record of strong and stable performance. Wealth management is confidence-sensitive, but the bank's long operating record, sound financial profile and strong liquidity demonstrate its ability to manage this risk extremely well.
The loan book is small and the securities and repo portfolios represent about half of total assets. Securities are highly rated sovereign, public sector and supranational debt.
Pictet's strong earnings and capital ratios provide a solid buffer against unexpected losses.
Moody's
- Long Term Deposit Rating: Aa2
- Short Term Deposit Rating: P-1
- Adjusted Baseline Credit Assessment: a1
- Outlook: Stable
Extracts from the press release
Moody's assesses Pictet to be a "conservatively managed Swiss private bank."
Banque Pictet's sizable liquid resources and strong capitalization are strong mitigants against the reputational, legal and operational risks as well as the short contractual tenor of predominantly uninsured deposits, which are typical characteristics of private banks.
Banque Pictet has an extended track record of successfully adapting its wealth management solutions for high net-worth and ultra-high net-worth customers to the evolving market environments, including an early focus on sustainability in investing as well as on private markets in recent years.
Our guiding principles
Independence
Rooted in Swiss tradition, our independence is protected by the absence of external shareholders. It frees us to concentrate on the interests of our clients, colleagues, communities and companies we invest in. It underpins the independence of mind that lies at the heart of successful investment performance.
Long-term thinking
To think long term means to resist the temptations of short-term fashion in favour of sustainable decision-making. Both our investments and our businesses have a long-term focus, to the lasting benefit of all stakeholders and thus of the Pictet Group.
Partnership
While Pictet has the legal form of a partnership, it is also a partnership in a wider sense. Partnership embodies respect, trust and interdependence over the long term. It also means embracing diversity and promoting inclusion.
Over the past 220 years there have been only 47 partners, each with an average tenure of over 21 years. Because the terms of the partners overlap, the knowledge, experience and values of each generation are absorbed and passed on without interruption. With the ninth generation of the Pictet family still active in the partnership, our structure ensures that we remain committed to maintaining the financial strength and solidity of the Group.
Responsibility
Responsibility goes hand in hand with a long-term partnership approach. It ensures a sense of responsibility and integrity towards not only the present generation but also to future generations — and towards the real economy and the wider world. This is the true meaning of sustainable thinking.
Entrepreneurial spirit
Independence, long-term thinking, partnership and responsibility count for little if we do not keep our entrepreneurial spirit alive. Many businesses lose their boldness, adaptability and originality as they grow. They become process-driven bureaucracies. Pictet is determined to stay true to its entrepreneurial origins.