Swiss private bank Pictet & Cie has expanded its Munich office by appointing seven new advisors, effective 1 July 2014.

In March this year, Pictet has opened a new branch office in Munich as part of its plans to expand business with German clients.

The new hires include Mirjana Rist and Michael Stege, who have joined the firm as senior private bankers alongside Michael Wachtendonk, Tassilo, Freiherr von Twickel, Florian Seidel and Barbara Lex.

All the seven new hires will report to Armin Eiche, head of wealth management Pictet Germany.

Prior to joining Pictet, all the seven members have worked at Deutsche Bank.

Marc Pictet, partner of Pictet Group, said: "The opening of our Munich office is a logical next step following the recent positive developments of client relationships in Munch and Southern Germany."

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