Pictet Asset Management has hired JP Morgan’s Alfred Le Léon as its head of ETF distribution, EMEA.
The newly created role comes less than two months after Pictet launched its AI Enhanced Equity Index Active ETF range into the European market – a four-strong suite of equity products covering the US, global, European, and global ex-UK regions.
See also: Pictet’s Bastianpillai on AI: Let’s get physical
Le Léon joined Pictet from JP Morgan, where he previously spent eight years as its head of ETF distribution for France, Benelux and French-speaking Switzerland.
Before this, he spent four years as an ETF sales specialist at Deutsche Bank and spent four years at HSBC as an ETF sales specialist.
Commenting on his appointment, Malick Badjie, global co-head of sales at Pictet Asset Management, said: “We are delighted to welcome Alfred at an exciting time for our ETF business in Europe.
“Alfred brings more than 15 years of ETF distribution experience and a proven track record of building ETF businesses across European markets. His expertise will be instrumental in accelerating the growth of our ETF franchise and broadening access to our AI Enhanced Equity Index Active ETFs to investors.”
Pictet AM’s half-year results
The appointment comes three days after Pictet AM published its unaudited results for the first half of 2016.
The firm’s consolidated net profit came in at CHF 1.3bn, an increase of 12% compared to the same period last year. Elsewhere, its operating income increased by 4% to CHF 1.6bn, while assets under management or custody reached CHF 810bn – a 7% uptick compared to the end of last year.
Pictet AM’s total capital ratio amounted to 21.9%, comfortably above the 12% requirement set by the Swiss regulator FINMA.
Marc Pictet, senior managing partner, said: “In an environment marked by geopolitical uncertainty, the assets clients entrusted to Pictet reached an all-time high.
“The solid operating result demonstrates the appeal of our business model and our ability to guide clients through complex and volatile market phases.”
