Geneva-based private bank Pictet is aiming higher, particularly in the German-speaking part of Switzerland, where it sees additional potential. To strengthen its presence in Zurich, one of Pictet's most significant locations alongside Geneva, the bank is expanding its team.

On October 1st, four new employees will move into the historic Leuenhof building on Zurich’s Bahnhofstrasse: Gregor Meier, Martin Frei, Steffen Glos, and Roger Baumann. This represents a significant loss for UBS, as the four senior private bankers played a crucial role in shaping the combined megabank's private banking unit at Zurich's Bellevue under the leadership of Gregor Meier.

Pictet confirmed this information to finews.com. «The four new employees reflect Pictet’s ambitions in the region,» said Pictet spokesperson Simon Roth.

At the same time, the hires emphasize Pictet's strategy of focusing on organic growth rather than acquisitions. Verena Gross, Head of Wealth Management for German-speaking Switzerland at Pictet, also highlighted this in an interview with finews.ch in April this year: «We are continuously hiring colleagues, and it is less important to us where they come from. Our employees should be successful in the long term.»

With the recruitment of the four UBS bankers, she has made a strong initial statement.

Pictet currently employs over 200 people at the Leuenhof, located near the Paradeplatz.