The early years of Pictet & Cie
"Banque de Candolle Mallet & Cie" was founded on 23 July 1805. The name "Pictet & Cie" was adopted in 1926. |
Beginnings
 "Banque de Candolle Mallet & Cie" was founded on 23 July 1805. At that time, it had two managing partners, Jacob-Michel-François de Candolle and Jacques-Henry Mallet, as well as three limited partners, Jean-Louis Mallet, brother of the former, Paul Martin and Jean-Louis Falquet. The fledging bank was located at the Cour St-Pierre until 1819. |
| |
From trading in goods to asset advisory and management
 According to its Memorandum of Association, the new bank's purpose was "to trade in goods and articles of all types, collect annuities and undertake speculation in commodities". This status reflected the general nature of business conducted at the time by banks in Geneva, which had all started out as traders in goods. Very early on, however, the Bank abandoned trading to concentrate on assisting clients in their financial and commercial affairs as well as offering them guidance on the art of managing their wealth. The services provided already included investment advice and foreign exchange trading. |
| |
The emergence of stocks and risk diversification
 Account books and documents show that in the 1830s, the Bank already held a broad enough range of securities on its clients' behalf to ensure that risks were properly spread: sovereign bonds issued by foreign states, lottery tickets (in fashion at the time), shares in local and foreign companies, and tontine annuities from Ireland, Orleans and Turin.
In the 1850s, industrial development in Switzerland, Europe and the United States boosted investment opportunities. Portfolios began to include bonds from North American railways, as well as shares in real estate, mining and insurance companies.
The year 1926 saw yet another significant event: the Bank changed its name to "Pictet & Cie", the name under which it has been known since then. |
| |
