Posted March 20, 2013 by Andrew Kyros in Business

Swiss Bank Targets European Markets

Targeting the clients of Middle Eastern regions, Pictet & Co, the Swiss bank is planning to use its hedge fund of $2.5 billion. It has asked investors to make monetary gains from the market of Europe as soon as the hazards of trading subsidy get broken up.

Talking about this step taken by the company, Philippe De Weck, the head of Pictet’s Geneva says in an interview of Dubai that they are estimating better asset value in Europe in comparison to other provinces of the world. He also states that the world will not going to end and there are many regions that are gaining quite well in the market. He adds that the demands for their products are probably higher in the high class companies of these nations.

The Swiss bank of Pictet joins the Carlyle Group LP in stating that the European asset value may seem quite attractive in the local stock market. The figures of the European Central Bank shows that the Federal Reserve has introduced above $2.3 trillion in the monetary annual system, through which the banks of Europe will be repaying the 225 billion euros by 8th March.

Pictet is the third biggest financial manager of Switzerland after UBS AG and Credit Suisse Group AG. The firm has approximately $2.5 billion asset value in its hedge fund management, added with flagship target of 3 to 5 percent of growth. With $10 billion client’s money in external fund hedge, a profit target is predicted by the company. However, the Asset Management group of Pictat needs the approval of local regulators before it starts promoting and campaigning for the hedge fund proposal in the Middle Eastern Regions.

In the words of Pictet’s executive, “We plan to become part of alternative distribution for people.”

Compared to last year, the risk factor of disruption up in the European Union is much less with various policy securities and measures. Weck says that the companies associated with export and stronger chance of growth has been fined for being added in the exchange record of Europe. He gives the example of Swiss watch companies which witness difference in market demands in regard to various regions where they operate.

Pictet, being the biggest and closely held bank globally, stated in the month of October that it plans to employ more staffs in order to manage its increased asset in the wealthy regions of Geneva and other Middle East areas. It is observed that Swiss banks are becoming more reliant on on the clients of Middle East, European and American clients who are pulling out funds to get relief in tax avoidance policy.

After the approval from the regional regulatory bodies, the bank plans to set up new partnerships of asset management.

Andrew Kyros

Andrew Kyros joined Market Voice News as a general assignment reporter. Andrew received a national Edward R. Murrow for spot news award and the regional Associated Press award for best newscast. Andrew attended Riverview High School near Coshocton, and graduated from Ashland College in Ashland, Ohio with a Bachelor of Arts degree in Communications. Andrew is our senior analyst and investigative reporter at The Market Voice News, Andrew has also reported on corporate corruption and related news.