Pictet & Cie. is “more vigilant than ever” over its unit managing money for U.S. clients, Tribune de Geneve reported, citing an interview with Nicolas Pictet, a managing partner at the firm.
Pictet North America Advisors SA, led by 16 employees in Geneva, oversees 3.3 billion Swiss francs ($3.5 billion) and is profitable, the executive told the newspaper.
Pictet said that access to certain foreign markets may be the main problem in future for the Swiss financial center.
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