ZURICH (Reuters) – Group assets under custody or management at Swiss private bank and asset manager Pictet rose nearly 10% in the first half versus the end of 2018, it said on Monday.
Assets advanced to 544 billion Swiss francs ($558.23 billion) as of the end of June at the Geneva-based bank. It did not give more a more detailed breakdown.
Consolidated first-half profit fell 17% from a year earlier to 265 million Swiss francs.
“Negative interest rates and a defensive stance on the part of investors had an impact on results in the first half of the year,” Senior Partner Renaud de Planta said.
Reporting by Michael Shields