Its technology and banking component, which provides infrastructure support to independent asset managers, family offices and private banks with portfolio management, trading, custody and reporting, attracted a further CHF2bn of client money, ending the period with CHF71bn invested.
Pictet, Switzerland’s fourth-biggest private bank, on Wednesday posted first-half consolidated net profit of 247 million Swiss francs ($258.5 million), up 29 percent year on year. The reasons for this increase were a rise in managed assets and brisker client activity. Net income rose 13 percent to 69 million francs.
As a result, total client assets stood at CHF 242 billion at end-June 2017, up from CHF 233 billion at end-December 2016.
Net assets under management rose 4.5 percent in the first six months of the year to 31.2 billion francs.
Lombard Odier managed assets worth 125 billion francs in private banking and 46 billion francs in the asset management divisions.
Asset management saw the successful launch of a number of cutting-edge impact investing solutions and the acquisition of a UK-focussed alternative investment management team, while the group’s technology for banking business finalised a major client integration. Compared with other private banks, Lombard Odier has a healthy CIR.