Pictet AM boosts governance with former Schroders man as non-exec

Massimo Tosato, the former vice chairman of London-based Schroders, is to be a non-executive director of the Swiss firm, Pictet Asset Management.

Pictet announced Tosato’s appointment along with two other non-executive directors, saying the appointments would reinforce its governance.

Tosato spent 21 years at Schroders, where he also spent time as chief executive of Schroder Investment Management.

He is currently a shareholder and chief executive of Italian multi-manager Quaestio Capital and is on the board of overseers of Columbia Business School in New York.

The two other non-executive appointments are Rolf Banz, who was a director of several Pictet Asset Management operating entities and investment adviser for alternative strategies, and Richard Heelis, who was head of equities at Pictet Asset Management for 17 years.

Also currently on Pictet AM’s board are Renaud de Planta, chairman, Laurent Ramsey, chief executive officer, and Daniel Wanner, CFO of the Pictet Group.

De Planta said: “We are delighted that Massimo Tosato, who has contributed so much to Schroders’ success, is able to join our board. His knowledge and experience complement the existing executive board members, and with the two other non-executive directors, I believe we have very strong governance in place.”