Swiss private bank Pictet backs Britain with £200m investment

One of Switzerland's oldest private banks is to invest up to £200 million in British firms in a vote of confidence in the UK.

Geneva-based Pictet is understood to be looking at companies in education and IT, as well as sectors such as facilities management – dealing with the maintenance of offices and other buildings.

Founded in 1805, Pictet manages £572 billion of assets. 

Last week it announced it would inject millions into British office cleaning and maintenance group Pareto in its first private equity investment in the UK.

London-based Pareto was founded in 2014 and made a profit of £2.1 million last year. 

Under the deal, it will receive up to £60 million from Pictet to extend its services and attract new clients in return for a controlling stake in the business.

Edmund Buckley at Pictet said: 'Pareto is an exceptional business with a differentiated brand and high-quality service.'

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