Pictet hires new Partner

Assuming the purported annual compensation is close to reality (Sfr 25 Million) one can truly say that Boris Collardi works on 'Wealth Management', his own! Let's hope that 'clients' do as well, since 2009 there has been a continuing boom period in all asset classes. As most fund managers tend to be more or less long come rain or shine they will have happy customers and no one will be checking the substantial fees too closely. When the inevitable bear markets - or even stock market crashes - arrive the moment of truth will arrive. Fees will still be charged, but as the proverbial question will arise: 'Where are the customer's yachts?' (in this case on Lake Geneva)

Wealth Management - but for whose pocket?

'Private' Equity's 'Dry Powder' costs you dear

Sitting on $963 billion means huge fees for the Promoters. They get paid in many cases even if they are slow in finding suitable investments. And they have every incentive to put this money to work, whatever the terms, as they are paid on the basis of 'we take (part of) the profits and you investor can keep the losses'. A veritable money-printing machine, built on the basis of leverage and an ever-rising stock market boosted by QE. And no one in the corporate governance and political crowd seems to take notice despite the rising discontent about executive excess in the public markets.
https://www.bloomberg.com//news/articles/2017-09-01/why-private-equity-has-963-billion-in-dry-powder-quicktake-q-a