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Switzerland's Pictet, Bangkok Bank form wealth management alliance

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HONG KONG (Reuters) – Pictet Group and Bangkok Bank PCL on Thursday said they have formed a wealth management strategic alliance for the bank’s clients in Thailand.

© Reuters/Denis Balibouse FILE PHOTO: A sign bearing the logo of family owned private bank Pictet is pictured at company headquarters in Geneva

Pictet, the Geneva-based wealth and asset management firm, said it would provide investment management services and offer broader international investment capabilities across asset classes for the bank’s customers.

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Bangkok Bank is Thailand’s largest bank by total assets, the two firms said in a joint statement, while Pictet had $746 billion worth of assets under management or custody at the end of June.

Pictet Wealth Management Asia Chairman Claude Haberer will join Bangkok Bank as an advisor to its president from January after he retires from the Swiss firm, the statement showed.

(Reporting by Scott Murdoch in Hong Kong; Editing by Christopher Cushing)

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