Pictet has hired a former Julius Baer banker – Alain Ucari – to head its new branch in Monaco. He will oversee a team of ten senior private bankers, according to a statement by the bank on Wednesday, February 26.
“The Principality has become a financial centre of choice for high net worth individuals, entrepreneurs and families,” said Renaud de Planta, senior partner at Pictet.
The bank has the necessary approval of the banking authorities in Paris and Monaco. The branch is legally attached to Pictet’s Luxembourg unit.
The branch will have 10 senior private bankers and will be led by Alain Ucari, who until recently was Chairman of the Board of Julius Baer in Monaco. From 2002 to 2014 Ucari was at the head of Credit Suisse in Monaco.
“Opening a banking branch in Monaco responds to the growing demand from an international private clientele present in Monaco,” said Renaud de Planta, senior Partner.
“In recent years and owing, in particular, to its legal and regulatory stability, the Principality has become a financial centre of choice for high net worth individuals, entrepreneurs and families. 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 branch has received the approval of the French and Monegasque authorities, including the Autorité de Contrôle Prudentiel et de Résolution (ACPR) in Paris and the Commission de Contrôle des Activités Financières (CCAF) in Monaco.
Pictet has hired a former Julius Baer banker – Alain Ucari – to head its new branch in Monaco. He will oversee a team of ten senior private bankers, according to a statement by the bank on Wednesday, February 26.
“The Principality has become a financial centre of choice for high net worth individuals, entrepreneurs and families,” said Renaud de Planta, senior partner at Pictet.
The bank has the necessary approval of the banking authorities in Paris and Monaco. The branch is legally attached to Pictet’s Luxembourg unit.
The branch will have 10 senior private bankers and will be led by Alain Ucari, who until recently was Chairman of the Board of Julius Baer in Monaco. From 2002 to 2014 Ucari was at the head of Credit Suisse in Monaco.
“Opening a banking branch in Monaco responds to the growing demand from an international private clientele present in Monaco,” said Renaud de Planta, senior Partner.
“In recent years and owing, in particular, to its legal and regulatory stability, the Principality has become a financial centre of choice for high net worth individuals, entrepreneurs and families. 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 branch has received the approval of the French and Monegasque authorities, including the Autorité de Contrôle Prudentiel et de Résolution (ACPR) in Paris and the Commission de Contrôle des Activités Financières (CCAF) in Monaco.
PHOTO: Alain Ucari
