The Hong Kong Monetary Authority (HKMA) has granted Pictet & Cie a full banking licence for its wealth management arm.
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Hong Kong will now serve as one of the five booking centres globally, complementing Pictets existing bank in Singapore, Pictet said. The Swiss bank claims to have in been operation in Asia for 25 years.
This latest development will not only benefit our clients but also support our ongoing focus on hiring senior bankers, said Pictets Asia wealth management CEO Claude Haberer.
Over the last year, Pictet has made a number of new senior appointments in Hong Kong and Singapore, including Sharon Chou, head of wealth management for North Asia, Richard Mak, regional head of advisory services, and Anuj Khanna, head of wealth management for South Asia.
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