Pictet, Lombard Odier publish figures for first time in centuries

first_imgSwiss private bank Pictet has published a financial report for the first time in more than 200 years.According to the half-year financial statement, the banking group generates 85% of its operating income from service income relating to wealth and asset management.Assets under management (AUM) at Pictet Asset Management amounted to CHF144bn (€117bn) after the first six months.Pictet, founded in 1805, began to operate as an institutional asset manager in 1967, when it became the founding member of the first independent investment foundation in Switzerland. As of the end of June, assets under management or custody in the whole banking group totalled CHF404bn, excluding double counting, which is CHF13bn more than at year-end 2013.“Taking double counting into account, amounts are split between wealth management (34%), asset management (33%) and asset servicing (33%),” the bank said.For previous years, the banking group reported assets under management or custody of CHF391bn for 2013, CHF374bn for 2012 and CHF337bn for 2011.The consolidated profit in the group for the first six months of 2014 stood at CHF203m.  The banking group was forced to disclose its financial status publicly for the first time as – in line with other Swiss private banks – as it changed its legal status as of January 2014.Both Pictet and Lombard Odier have changed to partnerships limited by shares according to Swiss law (“Kommanditgesellschaft auf Aktien nach Schweizer Recht”).This step was taken to limit the liability of owners in the event of losses or claims for damages.The eight partners in the Pictet Kommanditgesellschaft, as well as their eight counterparts at Lombard Odier, keep control over the banking groups as shareholders, and all operating business are now run as listed stock companies.As of the end of June, Lombard Odier, founded in 1796, managed CHF47.8bn for asset management clients.For the first six months of 2014, it reported CHF62.5m in consolidated net profit.last_img read more

Dad had 1000-kid goal

first_imgNZ Herald 17 August 2014A Japanese man suspected of fathering at least 15 surrogate children in Thailand planned to sire up to 1000, the Japan Times reports.The 24-year-old man said he wanted to produce between 100 and 1000 babies, according to the co-founder of an organisation that provides surrogate services in Thailand and other countries.“The best thing I can do for the world is to leave many children,” Mariam Kukunashvili of New Life Global Network quoted him as saying.She refused to introduce him to more surrogate mothers, and reported her suspicions to the Japanese embassy and Interpol.Thai police are investigating the man for possible trafficking offences, after it emerged he had taken three babies out of the country in the past year, Police General Ek Ungsananont news site reported investigators said DNA tests confirmed that nine infants found in a Thai condominium last week shared a common father. read more

Stanley Cup 2019: Blues’ Ivan Barbashev suspended one game for high hit on Bruins’ Marcus Johansson

first_imgBarbashev joins teammate Oskar Sundqvist who was also suspended for one game in this series for his hit on Matt Grzelcyk in Game 2. Blues forward Ivan Barbashev got away with a possibly fineable hit in Game 5 of the NHL Stanley Cup on Thursday, but that isn’t keeping him from facing punishment.Barbashev has been suspended one game for the hit, NHL Player Safety announced Friday following St. Louis’ 2-1 win in Game 5. Zdeno Chara injury update: Bruins ‘legend’ (broken jaw) active, starting Game 5 St. Louis’ Ivan Barbashev has been suspended for one game for an Illegal Check to the Head on Boston’s Marcus Johansson.— NHL Player Safety (@NHLPlayerSafety) June 7, 2019In the first period of the matchup against the Bruins with the game tied 0-0, Barbashev went up high with his shoulder and hit Boston forward Marcus Johansson.Marcus Johansson looks to be hit up high from Ivan Barbashev here.#yikes #nhlbruins— Here’s Your Replay ⬇️ (@HeresYourReplay) June 7, 2019The hit was not penalized in the game, but Johansson did go down to the ice. Related News Grzelcyk remains out with an injury in the series.The Bruins did get a power play soon after the hit on Johansson on a delay of game penalty but they were unable to capitalize on the two-minute minor.The Blues lead the series 3-2.last_img read more