Keep pulling the thread on Middle East.
The primary driver for future investment in clean energy will be the geopolitical goal of achieving strategic autonomy and energy independence, rather than climate change concerns.
In Europe, solar and wind power generation now produces more energy than fossil fuels.
In Europe, the combination of solar, wind, and hydropower accounts for over 50% of the energy mix.
China is on a clear path towards achieving energy independence.
Geopolitical unrest in the Middle East is causing a migration of wealth to European wealth centers.
The United Arab Emirates has been a primary beneficiary of recent global wealth migration.
Geopolitical uncertainty in the Middle East may cause a reversal of the recent wealth migration into the region.
A portion of wealth management capital is expected to flow back into Europe, particularly Switzerland, as clients seek to diversify their booking centers.
Pictet has a corporate strategy of not engaging in mergers and acquisitions.
Pictet has grown faster than the wealth management industry average without pursuing an M&A strategy.
Pictet provides its employees with access to AI tools including Perplexity and Copilot.
80% of Pictet's staff are daily users of company-provided AI tools.