Pictet opens Monaco branch

The Pictet Group has announced the opening of a banking branch in Monaco aimed at serving private wealth management clients living in the Principality.
The branch will be headed up by Alain Ucari, who was formerly Chairman of the Board at Julius Baer in Monaco. He will have a team of 10 senior private bankers to assist clients in their needs.
The Principality is the ideal location for a Pictet branch. The legal, regulatory and stability of the country makes it a perfect choice for high net worth players, entrepreneurs and families looking for a safe place to invest.
“Opening a banking branch in Monaco responds to the growing demand from an international private clientele present in Monaco,” Renaud de Planta, senior partner at Pictet said in a statement. “We believe that Monaco offers tremendous opportunities to establish long-term relationships with clients seeking tailored services, with a focus on the human touch and independent advice. A presence in Monaco will allow us to offer local access to the Pictet Group’s investment expertise, borne out by more than two centuries of experience.”
The office has been approved by the local authorities responsible for supervising these activities, the Autorité de Contrôle Prudentiel et de Résolution in Paris and the Commission de Contrôle des Activités Financières in Monaco.