Message from the Chairman of
the Board of Directors and
the Chief Executive Officer
Daniel de Picciotto
Chairman of the Board of Directors
Guy de Picciotto
Chief Executive Officer
« We made substantial investments in several areas in 2019 with innovation and corporate responsibility as our leading principles. »Activity report
COMMITTEE OF THE
BOARD OF DIRECTORS
- From left to right
John Manser has been a member of UBP’s Board since 2008. He gained a solid grounding in finance in his early career working for the Cantonal Bank of St. Gallen, UBS in Geneva and Citibank in Geneva, London, New York and São Paulo. In the 1980s he became the head of the finance department at Ciba-Geigy AG in Basel. That company’s merger with Sandoz in 1996 gave rise to Novartis, where he was Group Treasurer until 2007. John Manser holds MBAs from the Alexander Hamilton Institute and the University of Columbia (New York). He also holds the Swiss Federal Banking diploma.
As at 31 December 2019, he was also on the board of Hiag Immobilien AG and a member of the investment committee of the University of Basel.
Eftychia (La) Fischer
Eftychia Fischer has been a member of UBP’s Board and Committee of the Board since 2015. She joined the Bank in 2010 as Head of the Treasury & Trading division and was also joint-Head of the Asset Management division until 2015. Before joining UBP, she held various high-level roles at EFG International, Julius Baer, JP Morgan and UBS, and ran her own asset management company in Zurich. Eftychia Fischer holds a BSc from Imperial College, London and has completed the AMP (Advanced Management Program) run by Wharton University in the United States. She holds both Chartered Financial Analyst (CFA) and Financial Risk Management (FRM) qualifications.
As at 31 December 2019, she was also a member of the boards of the following companies: Alberca Foundation, Sherpa Asset Management, Vaudoise Assurance Holding, Mutuelle Vaudoise.
Olivier Vodoz was first elected to UBP’s Board in 1998, a position he currently occupies as General Counsel as well as being the Chairman of the Audit Committee. Between 1989 and 1997 he was in government in Geneva canton, holding the positions of President of the Department of Finance and President of the Department of Defence, prior to which he was a member of Geneva’s cantonal parliament. Olivier Vodoz has a degree in law from the University of Geneva and is a licensed legal practitioner in Geneva. Earlier in his career, he spent 20 years as a lawyer and partner at Geneva law firm Haissly & Vodoz. He has also worked as Ethics Commissioner at the Geneva police department, as well as being a member of the Assembly of the International Committee of the Red Cross from 1998 to 2013 and its Vice-Chairman from 2006 to 2013.
As at 31 December 2019, he was a member of the boards of the following companies, among others: Parkgest Holding, SIX Exchange Regulation, Swiss Risk and Care SA, Opsion – Open Pension collective fund.
Anne Rotman de Picciotto
Anne Rotman de Picciotto has been a member of UBP’s Board since 2006. She is also a member of the Bank’s Audit Committee and Remuneration Committee. After spending several years in Goldman Sachs’ Asset Management division, she joined UBP’s London branch management team in 2002, where she was responsible for business development with a focus on high net worth individuals and institutional relationships. Anne Rotman de Picciotto holds a BA in Business Administration from HEC in Lausanne, as well as an MBA from the INSEAD business school.
As at 31 December 2019, she was Chairwoman of the Board of CBI Holding SA, and sat on several other boards, including that of Dagnar Ltd.
Marcel Rohner has been a member of UBP’s Board since 2010 and its Vice-Chairman since 2016 and has chaired the Committee of the Board since 2015. He has a wealth of experience in the fields of banking, finance and risk management. He worked for almost 20 years at UBS AG, holding roles including Chairman and CEO of Global Wealth Management & Business Banking in 2005, Member of the Executive Committee from 2002 to 2009 and CEO of UBS Group from 2007 to 2009. Marcel Rohner has a PhD in economics from the University of Zurich.
As at 31 December 2019, he was also a member of the boards of the following companies: Löwenfeld AG, Löwenfeld Beteiligungen AG, Warteck Invest AG, Armada Investment AG, Helvetische Bank AG, Acoro Asset Management AG, and of the Advisory Board of the University of Zurich's Department of Economics. In 2018 he became Chairman of the Association of Swiss Asset and Wealth Management Banks.
Daniel de Picciotto
Daniel de Picciotto has been Chairman of UBP’s Board since 2016. He has been a member of the Board since 2010, before which he spent ten years on the Executive Committee. He joined the Bank in 1985 as Head of the Private Banking division’s Research Department, before becoming Head of Private Banking in 1990 and then Head of Asset Management in 1996.
As at 31 December 2019, Daniel de Picciotto was also a member of CBI Holding SA’s board of directors.
As at 31 December 2019, Guy de Picciotto was a member of, among others, CBI Holding SA’s board of directors. At that date he was also on the board of the Geneva Financial Center foundation.
Assets under management (in CHF Billions)
(IN CHF MILLIONS)
(IN CHF MILLIONS)
(IN CHF MILLIONS)
TOTAL ASSETS RATIO
ASSETS UNDER MANAGEMENT
(IN CHF BILLIONS)
billion's worth of assets under management
billion’s worth of assets under management
billion on the balance sheet
* of which CHF 10.9 billion managed by Asset Management on behalf of Wealth Management clients
in a few words
Although equity markets had a bull run in 2019, the financial sector continued to face multiple challenges. Among the hurdles were persistent negative interest rates, pressure on margins, new forms of competition, the blurring of lines between the private and institutional segments, and the acceleration of the digital revolution.
To keep our edge and maintain the quality of our services and the performances of our investment solutions, we continued to adapt our offering to shifting demands and to new market patterns. We also redesigned our Wealth Management division’s governance structure and reorganised our activities into three regions – Asia, Developing Markets and Europe. The robustness of our results and the numerous awards that we have received have confirmed the validity of this approach.
Another major project we undertook in 2019 was to formalise our corporate social responsibility (CSR) approach in order to take full control of our own environmental and social footprint. Our plans include continuing to invest in digital but also further broadening our offering with a special focus on responsible investing.
We are looking to the future with confidence in our firm foundations, being one of the sector's best-capitalised banks, as attested by our Aa2 long-term deposit rating with a stable outlook assigned by Moody’s in early 2019
A dedicated governance structure
Sustainability and future generations are at the core of our development model.
We integrate ESG criteria into every investment decision and have developed solid impact investing expertise.
CORPORATE SOCIAL RESPONSIBILITY
We are committed to managing our social and environmental footprint.
UBP's main news
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Cyberprotection: new criterion when choosing a private bank?
Private banking can never rest, and its latest challenge is to combat cybercrime.
How the private banking industry has changed in Monaco
A few months ago Sérène El Masri became the Site manager of the Monaco branch of Union Bancaire Privée (UBP), a bank she joined in 2017 in Geneva as head of its private banking activities for Monaco, Luxembourg and the French-speaking regions. This bold banker shared her first impressions of the Monaco market with us.
Navigating wealth succession in Asian families
Wealth succession is complex, emotional and can be costly if not managed properly.
UBP launches its Multifunds Secular Trends strategy
Union Bancaire Privée (UBP) has announced today a new addition to its equity product range with the launch of a Multifunds Secular Trends strategy, an innovative investment solution that combines thematic investing with a long-term view.
UBP enters the world of cricket
Union Bancaire Privée (UBP) is pleased to partner with the International Cricket Council (ICC) for the forthcoming Cricket World Cup 2019.
UBP Next Generation Academy strikes again
In 2017 and 2018 UBP hosted two sessions of the UBP Next Generation Academy, an educational programme designed with the leading business school INSEAD to help our clients’ offspring in their careers as entrepreneurs.
Distinction between private and institutional clients fades
Wealth management professionals have all noticed that every year the line between private and institutional clients is fading and their specific needs, which used to be so different, are becoming increasingly similar. And the trend is not a passing one.
2020 INVESTMENT OUTLOOK
In 2020, besides the impact of the coronavirus-related crisis which, at the time of writing, is still developing, the global economy should enter a phase of instability, with fiscal stimulus taking precedence over monetary easing and lifting some of the burden of cyclical adjustment off the shoulders of central banks. This suggests that periods of volatility will appear, which could persist until budgetary measures are put in place by all the major economies.