Pictet Wealth Management has appointed Kelvin Tay as its chief investment officer for Asia, to support the growth of the Geneva-based bank’s business in this region.
Tay, with over three decades of experience in investment research and asset allocation, was most recently CIO South Asia Pacific at UBS Wealth Management. News of Tay's move was first reported two months ago. His appointment takes effect on July 1.
Based in Singapore, Tay will report to Victor Aerni, CEO Pictet Wealth Management Asia and functionally to César Pérez Ruiz, head of investments and CIO.
Kelvin will also join Pictet Wealth Management’s Global Investment Committee and the Asia Executive Committee.
In this role, Tay will lead macroeconomic research across major Asian economies, develop comprehensive Asia-focused investment strategies contributing to the firm’s global asset allocation.
Tay, for years a popular figure to the regional financial media for his candour, will serve as Pictet Wealth Management’s primary investment research spokesperson for the region.
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“I am pleased to join Pictet at a pivotal time for Asia,” Tay tells The Edge Singapore.
“The region presents compelling long-term investment opportunities and I look forward to assisting clients and investors in navigating an increasingly complex global landscape by contributing to Pictet’s disciplined, forward-looking investment strategies based on independence, strong research capabilities and a multi-generational perspective,” he adds.
With CHF 757 billion in assets under management or custody as at December 31 2025, Pictet is one of the leading Europe-based independent wealth and asset managers for private clients and institutional investors.
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Founded in Geneva more than 220 years ago, Pictet, like many other wealth managers, are stepping up their presence in Asia to capture new growth generated within this region.
"Our Asia business is a key strategic focus for the group,” says Aerni.
“As we further grow our teams and broaden and deepen our client relationships, Kelvin’s experience will help to reinforce our Asia client franchise and augment Pictet’s rigorous investment-led approach that our clients value," he adds.
Ruiz says Tay will be a "very valuable" addition to Pictet's investment platform.
"He will play a key role in delivering Pictet Wealth Management’s investment strategies and solutions to our clients in Asia, who look to us for timely and actionable asset allocation insights," he adds.
Prior to UBS, where he spent two decades, Tay managed an Asia equities portfolio at Deutsche Bank Wealth Management Asia, and served as a regional telecoms analyst at JP Morgan Chase and ABN Amro, consistently ranking in the top three in institutional investor surveys.
In addition to his day job, Tay is an adjunct associate professor at Nanyang Technological University’s Nanyang Business School, an adjunct lecturer at Singapore Management University's Lee Kong Chian School of Business, as well as a lead lecturer at the Wealth Management Institute.
Tay holds an MBA with distinction from Imperial College London, and a Bachelor of Social Science and Bachelor of Arts from the National University of Singapore.
