The Establishment of Banque Piguet in Hong Kong

Banque Piguet & Cie S.A.
2007-03-08 18:58 1109

Its First Overseas Presence to Offer the Best Tradition of Swiss Private Banking in Asia

HONG KONG, March 8 /Xinhua-PRNewswire/ -- Banque Piguet & Cie S.A. ("Banque Piguet"), today announced the official inauguration of its first overseas office in Hong Kong. Founded in 1856, the bank has established a reputation for professional client service and an approachable culture over the past century and a half. The grand opening ceremony was officiated by the guest-of-honour, Mr Frederick Ma, Secretary for Financial Services and the Treasury of Hong Kong Special Administrative Region.

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Also presenting at the ceremony were over 200 guests including Banque Piguet's board members from Switzerland, Mr Hans Jakob Roth, Consul-General of Switzerland in Hong Kong, professional and entrepreneurs from across Asia and Europe, as well as many distinguished members of the financial community in Hong Kong. The perfect mix of guests signified Banque Piguet's determination to expand its presence overseas and extend the best tradition of Swiss private banking into Hong Kong and Asia.

Banque Piguet aims to offer its asset management and private banking business in China, taking advantage of the liberalisation of the banking sector, in particular the demand for wealth management services, and the introduction of the QDII Scheme etc.

Mr Charles de Boissezon, President of the Executive Board and Chief Executive Officer of Banque Piguet, said, "Our first overseas office in Hong Kong marks the bank's firm belief in and commitment to the territory, which is an ideal place for capturing the growing opportunities in the region. The choice of Hong Kong is a tribute to its dynamism and its well-earned role as Asia's World City."

Mr Michael Chan, Chief Representative -- Greater China Region, added, "The boom in Asia is continuing into its sixth year. According to the International Monetary Fund (IMF), the growth in Asia is promising and expected to reach 7% in 2007. Hong Kong is a regional financial hub as well as the gateway to China. Banque Piguet is setting up in Hong Kong to grasp the rise of Asia and target the high and ultra high net worth individuals and institutional investors in the region, particularly in Greater China."

Banque Piguet specialises in private banking, institutional asset management and services to independent portfolio managers. With an extensive historical database, Banque Piguet's investment strategy is based on the risk analysis of global macro-economic trends relative to the valuations of financial markets, thereby identifying future value and risk.

About Banque Piguet & Cie S.A.

In 2006, Banque Piguet celebrated its 150th anniversary. This Swiss private bank was established in 1856 and over the past century and a half has developed a reputation for professional client service and an approachable culture. In more recent years, however, it has developed a reputation as a bank with a difference. The two main differentiating factors are its ownership structure and its approach to investments which have produced consistent results in long-term wealth creation.

The bank is 80 per cent owned by Banque Cantonale Vaudoise (BCV), the 5th largest bank in Switzerland by balance sheet, whose main shareholder is the State of Vaud. The remaining 20 per cent is owned by management. This unique combination gives Banque Piguet the stability of a quasi-government shareholder and the leadership commitment that comes from management ownership.

The other differentiating factor is its successful investment approach, which has been achieved by adopting an investment strategy which is not driven by industry consensus or benchmarks, but by experience and independence of mind based on reflection and anticipation rather than following market trends.

Banque Piguet specialises in private banking, institutional asset management and services to independent portfolio managers.

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Issued by Occasions Corporate & Financial Communications Limited for and on behalf of Banque Piguet & Cie S.A.

For further information, please contact:

Ms Karen Lee/ Ms Cindy Hui/ Ms Peony Sze

Occasions Corporate & Financial Communications Limited

Tel:  +852-2185-7010/ 2185-7025/ 2185-7009

Fax:  +852-2801-5323


Source: Banque Piguet & Cie S.A.