Edgar de Picciotto & family’s profile picture

Edgar de Picciotto & family

Edgar de Picciotto & family’s profile picture
Net worth 2018: $2.3 Billion
Industry: Business
Country: Switzerland
Children: 4
BIOGRAPHY

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.

NET WORTH STATISTIC
2014

$1.65 Billion

2015

$2.2 Billion

2016

$2.3 Billion

2018

$2.3 Billion

TIMELINE
2017

4% (as of 31 December 2017), UBP is one of the best-capitalized banks in Switzerland

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

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

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

2012

With the acquisition of Nexar in 2012, UBP demonstrated its "ongoing commitment" to the alternative industry

2011

In 2011, UBP acquired the Swiss arm of Dutch state-owned ABN Amro Bank, a pure Swiss private bank

2010

On 6 December 2010, UBP announced it had reached a settlement with the Trustee when it agreed to pay $500 million

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

2002

UBP developed further with the takeover of the Discount Bank and Trust Company in 2002

1990

CBI acquired TDB-American Express Bank in 1990, which led to the creation of the current entity, Union Bancaire Privée

1970

UBP has been active in the alternative investment industry since the 1970s

1969

Edgar de Picciotto established the Compagnie de Banque et d’Investissements (CBI) in Geneva on 11 November 1969

(3.6/168 votes)