Banks Pictet CEO: No job cuts despite AI
Despite the increased use of AI, there is no threat of job cuts at the Geneva-based private bank Pictet like at other banks. "Our approach is different," said Marc Pictet in an interview with "Finanz und Wirtschaft" on Tuesday.
17.02.2026, 16:28
SDA
"We want to achieve our growth targets with the same number of highly qualified, loyal colleagues." AI helps "to manage this volume without losing the personal component".
Two years ago, Pictet launched a range of funds called "Quest AI", which are exclusively AI-driven investments. "The model analyzes over 400 parameters per company and generates signals," says Pictet. After two years, the fund outperformed the benchmark by an average of 2 percent after costs.
"Switzerland needs a strong UBS"
With regard to the planned stricter capital adequacy rules for UBS, he also said: "We need to think carefully about what each new regulation ultimately brings in comparison to other financial centers and what it costs." And: Before new rules are introduced, "we should check whether the existing ones have been implemented correctly".
He believes: "Switzerland needs a strong UBS, no question about it." He would even go one step further and would be happy "if we could bring a foreign systemically important bank back to Switzerland". He is thinking of a newer player such as the digitally positioned and, according to him, very successful Nubank from Brazil. The financial center must signal "that we are a good place to do business".
