The Pictet Group adheres to the strictest principles of Banking ethics :
- loyalty, fairness and integrity,
- competence, care and diligence,
- respect for privacy and confidentiality
- compliance with laws and regulations
- security and reliablity.
The Pictet Group has developed administrative and organisational measures to ensure that all reasonable steps are taken to prevent and identify situations where conflicts of interest may arise.
The main steps to prevent conflicts of interest are the following :
- segregation of duties, seperation of functions (functional, hierachical and contractual),
- body of internal directives,
- guideline framework for all staff matters,
- regular training,
- monitoring activities,
- inducement policy.
With respect to external conflicts of interest, as the owners of the firm are not subject to the typical shareholder pressure of a quoted business to produce short-term results, they have been able to take longer-term business perspective based on performance, client satisfaction and service.
All members of the organization are subject to Pictet Group policies; furthermore, each year, a signed declaration is sent to the Supervisory Authority.