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Pictet Draws $17 Billion of Net New Money in First Half of 2023

Pictet Draws $17 Billion of Net New Money in First Half of 2023
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After Exit, Pictet Says Life Without Collardi Won t Change

(Bloomberg) A day after Pictet & Cie.’s announcement that partner Boris Collardi would leave, management sought to assure stunned employees that the Swiss bank will do what it does best: stay the course. Appearing in a town-hall meeting, senior managing partner Renaud de Planta said Pictet’s wealth-management strategy would remain intact, and that no changes were afoot. He was flanked by Marc Pictet, another member of the top management group and a family heir, as well as Collardi himself, who spoke in emotional terms of his three years at the Geneva-based bank, according to people familiar with the meeting. Read More: Inside Pictet, the Secretive Swiss Bank Torn Between Old and New Collardi was visibly moved as he recounted his time at Pictet, which he joined from Julius Baer AG, the people said. He spoke of his achievements and the pride he took in having worked for the storied institution. Leaving now was the most difficult decision of his career, Collardi told the gathering,

Today s Headlines: Fires, homelessness and a growing crisis

TOP STORIES Fires, Homelessness and a Growing Crisis As the number of tents, makeshift shelters and campers on Los Angeles streets has surged, so has the scourge of fire. In the three years since the Los Angeles Fire Department began classifying them, fires related to homelessness have nearly tripled. In the first quarter of 2021, they occurred at a rate of 24 a day, making up 54% of all fires the department responded to. Many of the fires are limited to dumpsters and piles of trash, and the most common outcome is the destruction of tents or other shelter. A few have been costly and tragic. Seven homeless people died in fires in 2020. Fires starting in camps lined beside businesses have caused tens of millions of dollars in damage, according to the Fire Department.

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