Lydia Linna: Established in 1989, Pictet Luxembourg has grown from five staff members to more than 850 employees across four entities today. You’ve cited strategy and a culture of partnership as key elements to the firm’s success. Could you expand a bit on what that means and the growth strategy in the grand duchy?
: There are no doubts Pictet’s growth in Luxembourg is positively correlated with the success of the country’s asset and wealth management industry in the past three decades. Luxembourg has been one of the first adopters of the European directives on cross-border investments and this early move, alongside the country’s political stability and entrepreneurial spirit, have been instrumental to the success.
The growth of Pictet Luxembourg can also be attributed to its comprehensive service offerings, which include asset management, wealth management, asset servicing and, most recently, trading services. By developing such a diverse portfolio of services and by focusing on building long-lasting partnerships Pictet has successfully attracted a broad international client base.
Pictet was founded in Geneva, Switzerland and has offices around the world. Why is Luxembourg still important for the group?
Luxembourg remains pivotal to our strategy in Europe thanks to its political stability, pragmatic regulatory environment and cultural proximity to Switzerland. It serves as a strategic hub for our European operations, housing one-third of the group’s assets under management and offering a robust platform for asset management, asset servicing and wealth management. The country’s international vocation and entrepreneurial spirit perfectly align with Pictet’s values, making it an ideal location for our continued growth and success in Europe.
We hear a lot about competitiveness, attractiveness and the importance of retaining talent in Luxembourg. Could you tell us a bit about how Pictet is tackling this issue?
Pictet promotes a working environment focused on employee development, offering opportunities for professional growth and internal mobility. We invest in continuous learning and upskilling programmes to ensure our employees can evolve within the company.
Pictet activities and ambitions are always inspired by long-term thinking
Additionally, our commitment to corporate sustainability and community engagement, through initiatives such as volunteering programmes, Pictet creates a fulfilling working environment that enhances employee satisfaction and sense of belonging. This holistic approach helps attract and retain talent.
Pictet has established a partnership with Mudam, participated in the annual in September and showcased photos from the Prix Pictet photography prize at the Cercle Cité at the end of October. Why are these art-related initiatives important for Pictet Luxembourg and are there any others in the pipeline that you can share with us?
Preserving and promoting art and artists is part of the long tradition of patronage that the Pictet partners have cultivated from the group’s very beginnings in 1805. Taking the view that art serves as an important landmark in an ever-changing world, Pictet not only owns a unique art collection dating back to the exact year the bank was founded, but has also founded the Prix Pictet in 2008, the world’s leading award for photography and sustainability.
We are convinced our partnerships with Mudam and the Cercle Cité , two renowned institutions in Luxembourg, help foster a creative and vibrant community, stimulate thoughts and promote the group’s values of sustainability and social responsibility. To celebrate our 35th anniversary, we have also decided to sponsor the 2024-2025 season of Philharmonie Luxembourg.
Looking ahead to the next 35 years: what do you hope to see Pictet Luxembourg accomplish in the coming years?
Pictet activities and ambitions are always inspired by long-term thinking. In a world of instability, our clairvoyance and focus on long-term objectives are rare commodities and--at the same time--precious assets for our clients and our employees. My goal for Pictet Luxembourg is to continue to stand out as a responsible employer, innovative, committed to excellence for our clients and at the same time a responsible citizen, helping Luxembourg’s financial sector to remain competitive and attractive for international business.