Changes in leadership

Pictet today announces that Victor Aerni, currently head of Pictet Wealth Management in German speaking Switzerland, is appointed as CEO Pictet Wealth Management Asia with effect from 1 July 2023, based in Singapore. Tee Fong Seng, who is currently leading Pictet Wealth Management Asia, will remain on the Board of Directors of Bank Pictet & Cie (Asia) Ltd (BPCAL), the Pictet Group’s Singapore banking entity, as Vice-Chairman of the Board, reporting to François Pictet, Managing Partner of the Pictet Group and Chairman of the Board. In this role, Tee Fong Seng will continue to provide the Pictet Group with his unique perspective and insights on the Wealth Management market in Asia. The process to identify the succession for Victor Aerni is currently underway.

In addition, effective 1 January 2023, Evelyn Yeo currently Head of Asia Investments will be appointed Deputy CEO, BPCAL to support Sharon Chou (Head of South Asia and CEO BPCAL). This appointment is subject to regulatory approval. Based in Singapore, Evelyn will also continue as Head of Asia Investments. She brings over 20 years industry experience in leadership positions covering investment office, mandate consulting and sales management with Bank Julius Baer and UBS, before joining Pictet in 2019.

Victor Aerni is an Equity Partner of the Pictet Group and has been the Zone Head responsible for German speaking Switzerland since April 2009. During his tenure, he has developed Pictet into a leading wealth manager in the German speaking part of Switzerland. Prior to joining the firm, he was at the Boston Consulting Group for 16 years. He has a degree in International Business and Economics from Sophia University, Tokyo, where he lived for four years.

A 30-year private banking industry veteran, Tee Fong Seng has led the wealth management business of Pictet in Asia since July 2019, during which time the number of employees and assets under management have grown significantly, a strong achievement amidst the restrictive operatingconditions resulting from the Covid-19 pandemic.

Marc Pictet, Managing Partner of the Pictet Group, said, “We thank Fong Seng for his leadership in developing our wealth management business in this important growth region for Pictet. He brought onboard experienced relationship management teams across Hong Kong and Singapore and expanded our client base in the region. We are very pleased to continue benefiting from his vast experience.

We congratulate Victor on his new role. He has put Pictet Wealth Management on the map in Zurich both building the team and managing clients with significant success. We are confident he will bring his strategic acumen, sense of tradition and strong entrepreneurial spirit to further develop our business in Asia. Our congratulations also to Evelyn for her additional responsibilities while continuing to drive our investment platform in Asia.”