Pictet migrates to web-based technology to support growth of family office. Geneva-based private bank Pictet has selected Advent Software's Axys Portfolio Exchange (APX), the web-based version of Advent's Axys portfolio-management technology to support growth in the family-office business.

Reflection

Pictet, which also uses Advent's Custodial Data performance-reporting platform, began using the old-line, plug-and-play version of the San Francisco-based technology company's Axys in 2000. The bank moved to the more scalable APX portfolio-management and CRM platform to support its continuing growth.

APX is a "robust and flexible portfolio and client-management solution that allows for greater transparency," says Andreas Sutter, COO of Pictet's family-office unit. "We are confident that this will not only significantly enhance our operational infrastructure for our family-office clients but [also] enable us to provide a superior service to our clients across our business."

Pictet's decision to expand its relationship with Advent to help it cope with growth without piling on new staffers "reflects Advent's reputation in this important segment of the market," according to Hakan Valberg, head of Advent's European and Middle Eastern operations.

Pictet has more than $325 billion in assets under management and custody. -FWR

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