Pictet & Cie: new partners to be appointed

Ivan Pictet, who turns 66 in March, entered the bank in 1972 and joined the partnership in 1982.

For many years one of the leading advocates for the Geneva financial centre and business generally, Mr Pictet will continue to play a role in the Geneva financial community, as well as maintaining his existing commitments in the environmental, philanthropic and humanitarian fields.

Ivan Pictet will be succeeded as Senior Managing Partner by Jacques de Saussure, 57, currently his deputy, on 1st July 2010. Jacques de Saussure, who holds a Master's degree from MIT, joined Pictet in 1980 and entered the partnership in 1987.

Marc Pictet, 36, is currently Managing Director of Pictet & Cie (Europe) SA in Luxembourg, while Bertrand Demole, 37, is head of hedge fund investments, based in Geneva.

Marc Pictet holds an MBA from Boston University, while Bertrand Demole has an MBA from INSEAD.

Ivan Pictet commented, "Both Marc and Bertrand possess outstanding qualifications for the partnership, with a breadth of skills that will both reinforce the partnership and take it forward into the future.

"We are delighted to have people of their caliber to draw on as their appointment also assures the continuation of the family tradition that has sustained our bank throughout its 205-year history. I am confident that the Pictet group remains in secure hands in the years to come."