A 209-year-old Swiss bank publicly disclosed financial results for the first time in its history on Tuesday, underlining the sea change in the country's traditionally secretive banking sector.

Geneva-based Pictet Group published its results because a recent structural change shifting liability for losses from its eight partners to a corporate entity necessitates the disclosure of financial figures. On Thursday morning, Lombard Odier Group, which has undertaken a similar structural change, is expected to follow with its first public report since the bank was founded in 1796.