Geneva-based Pictet Group has signed a wealth management alliance with Bangkok Bank to provide wealth management services for the bank’s wealth clients in Thailand.
The alliance will see Bangkok Bank tapping Pictet’s global wealth and investment management capabilities as well as its know-how to enhance its wealth offerings in the country.
It will enable the bank’s clients to benefit from access to broader international investment capabilities across asset classes, as well as wealth management services and solutions.
Bangkok Bank president Chartsiri Sophonpanich said: “The products and services Bangkok Bank will develop with Pictet Group through this alliance will help us create more value for our wealth clients, complement their existing portfolio management and investment strategies with more sophisticated solutions, and help preserve their wealth for generations to come.”
Pictet is a partner to Bangkok Bank on several ongoing initiatives.
It acts as an investment advisor for Bangkok Capital Asset Management Company’s two funds, namely BCAP Global Multi Asset Fund and BCAP Global Multi Asset Plus Fund.
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BBL Asset Management Company, another subsidiary of the bank, launched the Bualuang Sustainable Investing Portfolio (B-SIP) fund which invests in sustainability funds managed by Pictet Asset Management.
Pictet equity partner and Pictet Wealth Management Asia chairman Claude Haberer is set to join Bangkok Bank in January 2022, following his retirement from Pictet.
Haberer is joining the bank as an adviser to the president.
Sophonpanich added: “We look forward to welcoming Mr. Claude Haberer and the deep wealth investment experience he will bring to Bangkok Bank and building on the common values which Bangkok Bank and Pictet Group share, especially our commitment to working closely with clients to earn their trust and confidence and building long-term relationships.”
Commenting on the development, Pictet senior managing partner Renaud de Planta said: “We plan to bring to Bangkok Bank and its clients our investment leadership, rooted in our independence as a group, as well as our own experience in succession and transmission of ownership over two centuries, with a focus on continuity, stability and sustainability.”
Last year, Pictet Asset Management, the asset management arm of Pictet Group, set up a unit in Shanghai in a bid to tap the evolving fund market in China.