Having turned itself into a public limited company at the beginning of last year, Gonet & Cie yesterday presented results for its business for the first time ever – a mere one-and-a-half centuries after being founded in Geneva.
Gonet in 2016 had a profit of 7.3 million Swiss francs, the company said in a statement on Thursday. Operating income amounted to 54.1 million francs and operating expenses to 42.6 million.
The company, which is being managed by Chief Executive Officer Nicolas Gonet, had a balance sheet total of 986 million and eligible own funds of 44.1 million francs. The core capital ratio was 19.24 percent.
Challenging Environment
«In a challenging market and a constantly changing regulatory environment, we have strengthened our foundations, thereby enabling us to embark on a new phase of development,» the CEO said according to the statement.
Gonet had assets under management totaling 4.1 billion francs at the end of last year, including assets managed under a joint venture with Paris-based La Française Global Asset Management. Gonet is selling the French company’s funds in Switzerland.
Founded in 1845
Gonet didn’t provide figures for net new money. In an earlier statement, Gonet had said that net new money in 2015 had been smaller than in 2014.
The company was founded in Geneva in 1845. It has some 120 employees working in Geneva, Lausanne, Nassau and Abu Dhabi.
