Swiss private bank Pictet & Cie has allowed 15 group managing directors to purchase equity in the business for the first time in the institution's 201-year history.

Pictet has had 38 partners since it was founded in 1805 in Geneva and currently has eight. The partners are Ivan Pictet, Claude Demole, Jacques de Saussure, Nicolas Pictet, Philippe Bertherat, Jean-François Demole, Renaud de Planta and Rémy Best.