Pictet builds presence in Italy

Pictet & Cie has strengthened its presence in Italy with the opening of a branch in Bologna.

The Geneva-based private bank, one of the largest asset managers in Europe with €300bn of assets under management, has appointed Alessandro Andreoli to head the new office.

Pictet now has five offices in Italy, the others being in Milan, Turin, Rome and Florence. The bank considers the region of Emilia Romagna to be a key part of its plans for the development of its private banking business.

Andreoli joins the Swiss group with a 20-year track record in the investment management industry. His most recent role was at Banca Esperia, where was partner and director of the Emilia division.

He has also worked at ABN Amro, Pasfin Securities and Interbancaria Investimenti-Gruppo BNL.

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