Edgar de Picciotto & family

About Edgar de Picciotto & family

Birth Place: Switzerland
Type: Private
Industry: Financial services
Founded: 1969; 49 years ago (1969)
Founder: Edgar de Picciotto
Headquarters: Geneva, Switzerland
Area served: Worldwide
Key people: Daniel de Picciotto (Chairman) Guy de Picciotto (CEO)
Products: Private banking Asset management Alternative investments
AUM: CHF 125.3 billion
Number of employees: 1,697
Website: www.ubp.com

Edgar de Picciotto & family Net Worth

Edgar de Picciotto & family was born in Switzerland. Swiss private banking pioneer Edgar de Picciotto passed away on March 13th, 2016 after a long illness. He was 86 years old. Born in Beirut, Lebanon, de Picciotto moved to Switzerland in 1954, where he entered banking under the guidance of his then father-in-law. One of the first to recognize the potential of investing in hedge funds, de Picciotto founded the predecessor to private wealth manager Union Bancaire Privee in 1969. The Geneva-based company has grown through acquisitions since its early days, purchasing TDB - American Express Bank in 1990 and the Swiss private banking division of Lloyds in 2013. At the time of his death, Union Bancaire Privee (known as UBP) managed more than $100 billion in client assets. De Picciotto's son Guy has been chief executive since 1998, while another son Daniel and his daughter Anne sit on the board.
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💰 Net worth: $2.3 Billion

2014 $1.65 Billion
2015 $2.2 Billion
2016 $2.3 Billion
2018 $2.3 Billion

Some Edgar de Picciotto & family images

Biography/Timeline

1969

Edgar de Picciotto established the Compagnie de Banque et d’Investissements (CBI) in Geneva on 11 November 1969. CBI acquired TDB-American Express Bank in 1990, which led to the creation of the current entity, Union Bancaire Privée. UBP developed further with the takeover of the Discount Bank and Trust Company in 2002.

1970

UBP has been active in the alternative investment industry since the 1970s. Over the years, it has built up a strong hedge fund advisory Service and runs several pooled funds and personalized mandates. With the acquisition of Nexar in 2012, UBP demonstrated its "ongoing commitment" to the alternative industry.

2009

Despite being a victim of Bernard Madoff's fraud, the bank offered in March 2009 to compensate eligible Investors 50 percent of the money they initially invested with Madoff.

2010

On 6 December 2010, UBP announced it had reached a settlement with the Trustee when it agreed to pay $500 million. UBP was the first bank to settle the trustee's claim in the case of Madoff. With this settlement, the Trustee has agreed to discharge his "clawback" claims against UBP, its affiliates and clients.

2011

In 2011, UBP acquired the Swiss arm of Dutch state-owned ABN Amro Bank, a pure Swiss private bank. The same year, UBP also broadened its operations in Asia by establishing two joint ventures in Hong Kong and Taiwan with TransGlobe.

2012

In 2012, UBP acquired Paris-based fund of hedge funds Nexar Capital Group, which has offices in London, Jersey and New York.

2013

In April 2013, UBP announced a partnership with Guggenheim Fund Solutions (GFS), which is specialized in managed accounts within the full spectrum of hedge fund strategies. Together, they launched a new hedge fund platform.

2015

On 26 March 2015, UBP signed an agreement with the Royal Bank of Scotland Group (RBS) to buy the international private banking activities of RBS's subsidiary, Coutts & Co International. These assets meant that UBP assumed control of their entities in Switzerland, Monaco and the Middle East.

2016

In May 2016 UBP announced it signed an agreement with SEB, a Nordic financial services group, enabling UBP to distribute SEB's Luxembourg fund range to institutional clients and third-party distributors.

2017

As of the end of December 2017, UBP's balance sheet total reached CHF 32 billion. By pursuing a conservative approach to risk-management, UBP has maintained a solid financial base and a strong balance sheet with a high level of liquidity. With a Tier 1 capital ratio of 27.4% (as of 31 December 2017), UBP is one of the best-capitalized banks in Switzerland.

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