MIRA
INFORM REPORT
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Report Date : |
23.01.2014 |
IDENTIFICATION DETAILS
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Name : |
PICTET ASSET MANAGEMENT LTD. |
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Formerly Known as: |
Pictet International Management Ltd. |
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Registered Office : |
Moor House Level 11 , 120 London Wall,
London, EC2Y 5ET |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.08.1995 |
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Com. Reg. No.: |
03093489 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Financial advisers, consultants & manage investment funds on behalf of its clients. |
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No. of Employees : |
205 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
United Kingdom ECONOMIC OVERVIEW
The UK, a
leading trading power and financial center, is the second largest economy in
Europe after Germany. Over the past two decades, the government has greatly
reduced public ownership and contained the growth of social welfare programs.
Agriculture is intensive, highly mechanized, and efficient by European
standards, producing about 60% of food needs with less than 2% of the labor
force. The UK has large coal, natural gas, and oil resources, but its oil and
natural gas reserves are declining and the UK became a net importer of energy
in 2005. Services, particularly banking, insurance, and business services,
account by far for the largest proportion of GDP while industry continues to
decline in importance. After emerging from recession in 1992, Britain's economy
enjoyed the longest period of expansion on record during which time growth outpaced
most of Western Europe. In 2008, however, the global financial crisis hit the
economy particularly hard, due to the importance of its financial sector.
Sharply declining home prices, high consumer debt, and the global economic
slowdown compounded Britain's economic problems, pushing the economy into
recession in the latter half of 2008 and prompting the then BROWN (Labour)
government to implement a number of measures to stimulate the economy and
stabilize the financial markets; these include nationalizing parts of the
banking system, temporarily cutting taxes, suspending public sector borrowing
rules, and moving forward public spending on capital projects. Facing
burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition
government (between Conservatives and Liberal Democrats) initiated a five-year
austerity program, which aimed to lower London's budget deficit from over 10%
of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the
Exchequer George OSBORNE announced additional austerity measures through 2017
because of slower-than-expected economic growth and the impact of the euro-zone
debt crisis. The CAMERON government raised the value added tax from 17.5% to
20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014.
The Bank of England (BoE) implemented an asset purchase program of up to
£375 billion (approximately $605 billion) as of December 2012. During
times of economic crisis, the BoE coordinates interest rate moves with the
European Central Bank, but Britain remains outside the European Economic and
Monetary Union (EMU). In 2012, weak consumer spending and subdued business
investment weighed on the economy. GDP fell 0.1%, and the budget deficit
remained stubbornly high at 7.7% of GDP. Public debt continued to increase.
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Source : CIA |
Company name & address
Pictet Asset Management
Ltd.
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Business Description
Financial advisers, consultants & manage investment funds on behalf of its clients.
Industry
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Industry |
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ANZSIC 2006: |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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Name |
Title |
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Laurent Ramsey |
Group Managing Director and Head of Global Distribution |
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Klaus Bockstaller |
Head Global Emerging Markets |
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David Cawthrow |
Secretary |
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Peter Robinson |
Head of IT & Facilities Management Unit |
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Linda Sweetman |
HR Administration Manager |
Financial Summary
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1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6311738
2 - Balance Sheet Item Exchange Rate:
USD 1 = GBP 0.6190609
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Corporate
Family |
Corporate
Structure News: |
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Pictet Asset
Management Ltd. |
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Pictet Asset Management Ltd. |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Pictet Canada Lp |
Parent |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Professional Services |
156.2 |
227 |
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Subsidiary |
London |
United Kingdom |
Banking |
145.1 |
205 |
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UK Branch/Trading address |
London |
United Kingdom |
Pensions and Funds |
156.2 |
200 |
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Subsidiary |
London |
United Kingdom |
Pensions and Funds |
11.1 |
22 |
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Subsidiary |
London |
United Kingdom |
Pensions and Funds |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Professional Services |
250.0 |
175 |
Executive report
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Board of
Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Group Managing Director and Head of Global Distribution |
Managing Director |
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Secretary |
Company Secretary |
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Senior Investment Manager |
Investment Executive |
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Senior Human Resources Manager |
Human Resources Executive |
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HR Administration Manager |
Human Resources Executive |
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Head Global Emerging Markets |
Marketing Executive |
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Head of Marketing |
Marketing Executive |
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Head of IT & Facilities Management Unit |
Information Executive |
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Head of Institutional Business Development, UK and Ireland |
Business Development Executive |
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Head of Performance Analysis |
Other |
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Co-Lead, Global Equities |
Other |
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Head of Global Consultant Relations |
Other |
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