When Ivan Pictet became managing partner in 2005 of the Swiss private bank founded by his family eight generations ago, he told the media it was crucial to remain true to the principles that had guaranteed the bank’s 200 years of success by growing organically and staying away from investment banking.

Jacques de Saussure, who takes over from Ivan as managing partner in July, could easily repeat much of what his predecessor told the press more than five years ago and none of it would seem out of place. Indeed, it would just reinforce the reasons why one of the world's most successful private banks and asset managers negotiated the credit crisis so well. Just as some would say time is a great healer, for Pictet & Cie, it is a great sustainer.