Pictet Group has reported a 15% rise in consolidated profit to £586.5m for the year to 31 December.

The company’s operating income remained in line with the previous year £2.8bn in the same period.

Pictet’s assets under management stood at £638.5bn at the end of 2024, a figure up by 14% on the previous year, while net new money for 2024 totalled £9.7bn.

The group’s equity, regulatory liquidity and capital ratios also remain robust, as its total capital ratio stood at 24.5%, well above the 12% requirement set by Pictet’s Swiss regulator, FINMA.

“We achieved solid results in 2024,” senior managing partner, Marc Pictet, said.

“Investment performance was excellent and positive market effects helped us reach an all-time high in assets under management. Clients continue to value our distinct investment capabilities and the stability we provide in an ever-changing industry and volatile geopolitical landscape.”

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