Swiss asset management company Pictet has appointed an entire multi-asset fund team swiped from Barings, a 250-year-old multinational competitor, headquartered in London.
Percival Stanion, who headed up the team at Barings and managed over £9 billion worth of assets, as well as his colleagues Andrew Cole and Shaniel Ramjee have all made the leap to Pictet. At Baring, Cole also oversaw around £1bn worth of assets in a multi-asset retail fund.
“We are delighted to be able to attract a person of Percival’s calibre,” Renaud de Planta, CEO of Pictet AM, said in September, when news of the hire first became apparent. “This hire demonstrates our determination to expand our existing multi-asset strategies for clients both in the UK and elsewhere.”
Last month, the company also announced the hire of two new portfolio managers, Nathalie Flury and Tazio Storni, to help strengthen its healthcare team. Flury joined from the Zurich-based Swiss & Global Asset Management and Storni from Bellevue Asset Management.
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