*"Asia represents a significant growth opportunity, not only for our clients but for the wealth management sector as a whole," said Renaud de Planta, Senior Managing Partner at Pictet Group, as the Swiss private bank unveiled its new regional headquarters in Singapore.*
The Pictet Group, one of Europe’s oldest and most prestigious private banks, has officially inaugurated its expanded regional headquarters in Singapore, marking a decisive move in its strategic focus on Asia's burgeoning wealth market. The new office, located in the heart of Singapore’s Marina Bay financial district, reflects the bank’s commitment to servicing the region’s high-net-worth individuals (HNWIs), family offices, and institutional clients.
Founded in 1805, Pictet has long been synonymous with discretion, bespoke wealth management, and multi-generational client relationships. While its roots remain firmly planted in Geneva, the bank has steadily shifted its focus toward Asia over the past decade, drawn by the region’s rapid economic growth and the increasing sophistication of its financial landscape. Singapore, in particular, has emerged as a global wealth hub, bolstered by its favorable tax regime, political stability, and robust regulatory framework.
The newly expanded Singapore hub will also serve as a center for Pictet’s sustainability and impact investing initiatives, a segment the bank has emphasized as integral to its long-term strategy. In addition to providing traditional wealth management services, the office will offer clients tailored solutions in private equity, alternative investments, and estate planning, leveraging the bank’s global expertise.
*"Our clients in Asia are looking for more than just investment advice; they want a partner who can navigate the complexities of cross-border wealth," said Tee Chay Hoon, Head of Asia for Pictet Wealth Management. "This expansion allows us to deepen our relationships with existing clients while positioning ourselves to attract new ones in a competitive market."*
The timing of Pictet’s move is particularly notable. According to a recent Bain & Company report, Asia-Pacific is set to account for 50% of global wealth by 2025, with Singapore playing a pivotal role as a nexus for regional and international capital flows. The city-state has also seen an influx of family offices, with over 1,100 now operating locally—a tenfold increase from five years ago. Pictet’s enhanced presence in Singapore is widely viewed as a calculated response to this trend, aimed at capturing a larger share of the growing demand for bespoke wealth management services.
As competition intensifies among private banks in Asia, Pictet’s expansion underscores its long-term vision and adaptability. By blending its European heritage with forward-looking investment strategies and a commitment to sustainability, the bank aims to secure its position as a trusted partner for Asia’s ultra-wealthy.
With the opening of its new Singapore hub, Pictet is not merely expanding its footprint but redefining its role as a global wealth steward. In an era where clients increasingly seek agility, expertise, and alignment with their values, the bank’s move signals its readiness to meet the challenges of a shifting economic landscape.
(Editors: admin)