On Friday 27 September 2024, Pictet Luxembourg, the Pictet Group's second-largest location after its headquarters in Geneva, has announced it is celebrating 35 years in the Grand Duchy.
Established in Luxembourg in 1989, Pictet is now the tenth-largest local employer in the financial sector, with more than 850 professionals. As at 31 December 2023, Pictet Luxembourg's assets under management stood at €295 billion, underscoring its growth trajectory.
"Over the past 35 years, a large part of our European growth has come from the Grand Duchy. From a staff of five when it opened in 1989, Pictet Luxembourg has grown to over 850 today, spread across four separate entities," commented Mario Pirola, CEO of Pictet Luxembourg. "We are well established with a strong position in Luxembourg's financial market. We now rank as the third-largest private bank by assets under management (and the largest of Swiss origin), the fourth-largest asset management company and the seventh-largest custodian bank."
Pictet offers a wide range of bespoke products and services in Luxembourg. With expertise spanning wealth management, asset management, administration, fund structuring, custodial banking and trading activities, Pictet serves both private and institutional clients.
As part of its celebrations to mark its 35th anniversary in the Grand Duchy, Pictet announced it will lend its support to several cultural, voluntary and humanitarian initiatives, as it has reportedly done on many occasions since its foundation. In addition to its partnership with MUDAM, sponsorship of the 2024-2025 season of Philharmonie Luxembourg and participation in the annual Private Art Kirchberg event, the Group will showcase selected photographs from the internationally renowned Prix Pictet, a photography prize launched in 2008 to raise awareness of sustainability issues, at Cercle Cité starting on 19 October.
