Pictet reports growth in AUM even as consolidated profit remains stable

Group 1 - Pictet Group reported assets under management or custody of SFr757bn ($987bn) for the year ending 31 December 2025, an increase of 4.5% from SFr724bn in 2024 [1] - The consolidated profit for 2025 was SFr667m, remaining almost flat compared to the previous year, while operating income rose by 1.5% to SFr3.21bn [1] - Net new money for the year amounted to SFr19bn, contributing to the overall growth in assets [1] Group 2 - As of December 2025, Pictet's liquidity coverage ratio was 191%, exceeding Basel III requirements, and the total capital ratio was reported at 21.6%, well above FINMA's minimum requirement of 12% [2] - Marc Pictet, senior managing partner, highlighted the group's solid results in a dynamic market environment, emphasizing strong investment performance and substantial inflow of net new money [3] - Pictet Group operates as a partnership structure, specializing in wealth management, asset management, and alternative investments, without involvement in investment banking or commercial loans [3] Group 3 - The group has a workforce of approximately 5,500 across 31 offices in major cities including London, New York, Singapore, and Zurich [4] - In 2025, Pictet Bank was fined SFr2m ($2.4m) by Switzerland's Office of the Attorney General for organizational lapses related to money laundering activities [4]