Pictet & Cie., Switzerland’s largest closely held private bank, said client assets under management increased by 8.5 percent in the first half of the year.
Assets under management rose to 268 billion francs ($274 billion) at the end of June, from 247 billion francs six months earlier, with most of the gain coming in the first quarter, an official at the Geneva-based bank said by phone today.
Pictet, established in 1805, is Switzerland’s third-largest wealth manager after UBS AG and Credit Suisse Group AG. The company declined to provide figures for net new money during the period.
Total client assets, including those held in custody, climbed to 357 billion francs from 336.3 billion francs at the end of December.
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