Pictet recently enabled its international clients to place their assets in London, an option that has already attracted numerous clients, despite the concern about the likely effects of the U.K.'s departure from the European Union.

The private clients of Pictet, the Geneva-based bank, can have their assets booked into accounts in London, the company recently said. The expansion of wealth management in the City was initiated due to customer demand and followed the necessary regulatory approval by the U.K. authorities.

Pictet increased its asset management staff for private clients by a third to 33 over the past months. Part of the increase was specifically intended for the Asian clientele, which will be able to profit from the service starting in 2017.

Asian investors have taken Brexit and the subsequent devaluation of the pound as an opportunity to invest in the country – not least in real estate.

No Concern Over Brexit

«The U.K., and London in particular, is exceptionally well-suited to the needs of the ultra-wealthy,» Heinrich Adami, the CEO of Pictet wealth management U.K., told «Citywire Asia».

Another top manager of the bank in the summer had been quoted as saying that Pictet wasn't concerned about Brexit, asked by the «Financial Times». Laurent Ramsey is the CEO for Pictet's asset management in London and a partner at the institute.

The bank attracted new money after the decision, amounting to 590 million pounds in the two weeks after the vote alone.

Passive vs. Active

Ramsey also was cited as saying that he was concerned about the rapid increase in passive investment solutions, which he said held substantial risks.

The manager claimed that the expertise of experienced fund managers was essential to prevent a meltdown for investors, especially in the current climate of volatile markets and geopolitical insecurities. Institutional wealth managers had a unique opportunity to generate a value added for their customers.

Remains to be seen whether they manage to do so. Passive investments in their majority beat the active managers and only very few active fund managers succeed in beating the underlying indexes.