Pictet appoints Raymond Sagayam managing partner
Banque Pictet & Cie, a private bank and asset manager based in Geneva, has nominated Raymond Sagayam as a managing partner, marking a rapid renewal of leadership at the institution. The addition of Sagayam will bring the total number of managing partners to eight, and he will become the 47th managing partner in the bank’s long history when he joins the council of owner-managers in January.
Banque Pictet & Cie, a private bank and asset manager based in Geneva, has nominated Raymond Sagayam as a managing partner, marking a rapid renewal of leadership at the institution. The addition of Sagayam will bring the total number of managing partners to eight, and he will become the 47th managing partner in the bank’s long history when he joins the council of owner-managers in January.
Banque Pictet & Cie, which oversees over 600 billion Swiss francs in assets, has been undergoing significant changes in its leadership team. A partnership position at Pictet is highly sought after in Swiss private banking as it provides a share in the bank’s retained profits, often amounting to around 20 million francs annually. In 2021, the bank welcomed its first female partner, Elif Aktug, and Sven Holstenson is set to join next month. These appointments, along with Sagayam’s, mark a significant shift in the ownership and management structure of the bank.
Furthermore, the bank has been increasingly selecting partners from the investment management divisions rather than wealth management, indicating a shift in focus towards fund management and institutional assets.
Raymond Sagayam, currently the chief investment officer for fixed income in Pictet’s asset management unit and the head of asset management for the bank’s London presence, brings extensive experience to the role. He joined Pictet in 2010 from Swiss Re, where he held the position of managing director.
The bank has also announced the upcoming departures of long-standing partners Remy Best and Bertrand Demole. These recent changes mean that, once implemented, six out of the eight partners will have tenures of less than a decade, while senior managing partner Renaud de Planta has been a partner for 25 years.
