The Genevan private bank fleshed out its plans to return to the U.S. with its flagship asset management arm. A 19-veteran veteran Pictet veteran is tasked with the push.
Pictet opened its first asset management office in New York on prestigious Fifth Avenue, it said in an emailed statement on Monday. Liz Dillon, who has worked for the Genevan wealth and asset manager since 2002, to New York to lead the effort.
In addition to appointing Dillon as CEO of Pictet's asset management in the U.S., the Swiss bank hired three executives – Mike Acker, Nick Mavro, and Jorge Corro – for the new office. Pictet said it is recruiting in order to expand the team to 12 people.
Acker was poached from Axa Investment Managers, Mavro was previously with Fiera Capital, and Corro joined Pictet from Nortesur, an asset management sales and management boutique. Pictet oversees more than $209 billion in its asset management arm, which is larger by assets than its private bank.
