According to reports from various media outlets, the Pictet Group officially confirmed this move on Wednesday, affirming previous indications provided to the business magazine Paperjam two years ago.
At the time, the magazine had reported that Pictet employed a workforce of 650 individuals in Luxembourg, spanning across its banking, insurance, and fund management divisions.
Pictet stressed that the transfer of its European headquarters from Luxembourg City to Frankfurt should not be construed as an indication of the Group’s withdrawal from the Grand Duchy.
The Pictet Group is mainly active in asset management.
