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Piguet Galland review

Piguet Galland & Cie SA

Three stars: a clean ten-year record, protected deposits and a desk for external managers.

Booking centreSwitzerland
RegulatorFINMA
Legal formLocally incorporated subsidiary
GroupBCV Group (ownership by Banque Cantonale Vaudoise)
Websitepiguetgalland.ch
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PPLI.com
Private Bank Rating
3 out of 5 stars
Editorial assessment on UHNW criteria
Reviewed 6 November 2026 · Q4 2026 edition
Updated every quarter
Rating signed byNoam CohenEditor, Bank Intelligence
About the rating
3 out of 5, Q4 2026 edition
Not publishedpricing on request
2matters on the record, 2010 to 2015
Not publishedminimum relationship
The editor's opinion

Why Piguet Galland has three stars

Piguet Galland earns three stars. No final adverse finding against this licence holder in ten years of regulatory and court records. What a family should weigh: no fee schedule is published; pricing is given on request. A matter is open with the authorities and carries no weight until it is decided. Still to be confirmed: the custody terms and the services offered here. These points carry no weight until they are documented.

Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026, Q4 2026 edition. The rating weighs the public record together with what clients and their advisers tell us in confidence; retail products, branches and apps play no part.

Where Piguet Galland stands out

  • No final adverse finding against this licence holder in ten years of regulatory and court records.
  • Custody assets are protected by statute in the booking centre, with conditions a family should read.
  • Deposits are covered by a statutory protection scheme.
  • A dedicated desk serves external asset managers and family offices.
  • Ownership and control are fully public.

What to weigh

  • One matter is still open with the authorities and not decided. It carries no weight in the rating until it is decided.
  • No fee schedule is published; pricing is given on request.
  • The custody agreement is not public, so its terms could not be reviewed.
  • There is no published list of what this booking centre offers private clients.
  • How the bank handles third-party payments is not public.

The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the bank, not a credit rating, not a forecast of failure and not investment advice.

The record

Regulatory and legal record

What regulators, prosecutors and courts have decided, recorded against the legal entity they named, with the status, the amounts as published and a link to the original document. Claims and investigations still under way are marked as open.

201523 October 2015

Non-prosecution agreement under the Swiss Bank Program, US-related accounts

Piguet Galland entered a Swiss Bank Program non-prosecution agreement covering 337 US-related accounts with USD 441 million in aggregate assets under management and paid a penalty of USD 15.365 million.

Piguet Galland will pay a penalty of $15.365 million.

Standard Swiss Bank Program cooperation obligations.

US Department of Justice (Swiss Bank Program, Category 2)Settlement without admissionPenalty USD 15.4 millionPrimary source
201016 August 2010

US clawback actions by the liquidators of the Madoff feeder fund Fairfield Sentry

According to its 2025 annual report, Piguet Galland & Cie SA has been a defendant since 16 August 2010, alongside many other financial institutions, in actions brought in the United States by the liquidators of the feeder fund Fairfield Sentry. The actions remain open, and on its own legal risk analysis the bank holds no provision for them beyond legal defence costs.

United States (proceedings brought by the liquidators of Fairfield Sentry; court not specified in the annual report)Allegation or claimOpen matter, not decidedPrimary source
Clients and standing

Client experience and financial standing

What clients meet at Piguet Galland, read from complaint registers, ombudsman decisions and court records, independent reporting and what clients and their advisers tell PPLI.com in confidence. Announcements by the bank, awards and marketing material are left out.

UHNW client ratings

1.7 out of 5, based on 3 client ratings for this booking centre.

What clients report

The one long-running case is the clawback action brought in the United States by the Fairfield Sentry liquidators, open since 16 August 2010, for which the bank holds no provision beyond defence costs.

Worth raising with the bank

  • Ask how the Fairfield Sentry clawback actions in the United States, open since August 2010, could affect the bank, and why it holds no provision for them beyond defence costs.

Financial standing

Credit ratings published by the agencies, dated by the latest agency or bank document that confirms them
AgencyRatingOutlookAs ofRated company
S&PAAStableAs cited in the 2025 annual reportBanque Cantonale Vaudoise (parent)
Moody'sAa2StableAs cited in the 2025 annual reportBanque Cantonale Vaudoise (parent)
What it costs

What Piguet Galland charges

Piguet Galland does not publish its private banking fees. The site says that pricing is given on request. We searched its website on 6 November 2026 for a fee schedule, a tariff or a pricing page. We read its legal, documents and client information pages and searched the site in each language it uses. 96 of the 151 banks we cover publish theirs. A family cannot see what a relationship with Piguet Galland would cost before asking, so the cost transparency element of the PPLI.com rating gives Piguet Galland no credit for a published schedule, and the bank cannot be placed in our fee comparison. If Piguet Galland publishes a schedule, we will read it and add it in the next edition.

Pricing not published

Banks that publish their fees, and how they compare, are listed on the comparison page. If you hold a proposal from Piguet Galland, our editors can place it against the published fees of other banks in confidence: write to [email protected].

The bank at a glance

Identity, protection and services

Legal identity

Legal namePiguet Galland & Cie SA
LEI549300N8MWPYEJDPE198
LicenceBank  Source
RegulatorFINMA
Legal formLocally incorporated subsidiary
OwnerBanque Cantonale Vaudoise

Ownership

Group parentBanque Cantonale Vaudoise (listed, SIX)  Source
ControlCanton of Vaud (via Banque Cantonale Vaudoise), 66.95%; state owned  Source (21 January 2026)
Holder of 10% or moreBanque Cantonale Vaudoise, 99.7% in Piguet Galland & Cie SA  Source (31 December 2024)
Holder of 10% or moreCanton of Vaud, 66.95% in Banque Cantonale Vaudoise  Source (21 January 2026)

Ownership is shown as published, with its date. It describes who owns the bank; it does not, by itself, suggest any wrongdoing by the bank or its owners.

Financial strength, as reported

Credit ratingsS&P AA (Banque Cantonale Vaudoise (parent)); Moody's Aa2 (Banque Cantonale Vaudoise (parent))
CET1 ratio16.6% (31 Dec 2025)
Total assetsCHF 1.4 billion (31 Dec 2025)
Shareholders' equityCHF 92.6 million (31 Dec 2025)
Client assetsCHF 8.5 billion assets under administration (avoirs administrés, including double counting) (31 Dec 2025)
Net profitCHF 10.2 million (31 Dec 2025)
Employees176 (31 Dec 2025)
Founded1856

Figures for Piguet Galland & Cie SA. Sources: Piguet Galland Rapport annuel 2025; BCV - Ratings history (investor relations); Moody's credit opinion on Banque Cantonale Vaudoise, 16 Oct 2025 (hosted by BCV).

Services published for this booking unit

Private clients
Discretionary management
Advisory mandates
Custody only (execution and safekeeping)
Lombard lending
Mortgage lending
Multi currency accounts
Trust and fiduciary services
Family office services
Wealth planning
Consolidated reporting
External asset manager desk

Offered at this booking centreOffered by the group, not confirmed hereNot located, which does not mean unavailable
Checked on the bank's own pages, 2 November 2026.

Access and costs

Minimum relationshipNot published
Product minimumProduct minimum: CHF 300,000 (You must invest at least 300,000 CHF.)  Source
US personsNot published
Fee scheduleNot published
Third party paymentsPublished  Source
Transfer out termsNot published

Protection of client assets

Deposit protectionAll banks with a Swiss office must be members of esisuisse: privileged deposits are protected up to CHF 100,000 per client per bank, including non-resident clients and foreign currency deposits, within a system cap.
Custody lawSwiss Banking Act art. 37d: custody assets held for clients are separated from the bankrupt bank's estate and handed over to the clients, with privileged deposits protected under arts. 37a and 37h.
Custody termsNot published

Before opening an account

  • Custody agreement. The applicable legal framework is set out above. Ask for the agreement that would govern your account and check how securities are titled, whether any sub-custodian is used, and when the bank may take a lien.
  • Reporting to the family office. The bank lists a desk for external asset managers. Ask for a sample statement or data export and confirm whether it includes positions, transactions, accrued income and all currencies held.
  • Transferring assets out. Ask which positions can be transferred without selling them, who approves exceptions, and how charges are calculated for each position and market.
Your experience

Rate Piguet Galland

If you bank with Piguet Galland or advise clients who do, your experience forms part of its PPLI.com rating. Every response is read by the editor and treated in strict confidence.

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Our commitment to confidentiality

Your name, email and telephone number are seen only by the PPLI.com editor. They are never published, never passed to Piguet Galland or any other bank, and never used for marketing. We may contact you once to clarify your assessment. Once verified by our editors, your assessment can lead to a disclosed adjustment of this bank's PPLI.com rating. It is never published with your name.

Sources

All 14 documents cited on this page, by subject.

Regulatory and legal record

  1. US Department of Justice (Swiss Bank Program, Category 2): Non-prosecution agreement under the Swiss Bank Program, US-related accounts, 23 October 2015justice.gov
  2. United States (proceedings brought by the liquidators of Fairfield Sentry; court not specified in the annual report): US clawback actions by the liquidators of the Madoff feeder fund Fairfield Sentry, 16 August 2010piguetgalland.ch · Piguet Galland

Identity, ownership, finances and services

  1. FINMA: Bewilligungstraeger (PDF)finma.ch · Licence
  2. BCV: For shareholdersbcv.ch · Group parent
  3. Piguet Galland: Lannée 2024 Rapport Annuel version courte (PDF)piguetgalland.ch · Holder of 10% or more
  4. BCV: Notations moodys sp (PDF)bcv.ch · Holder of 10% or more
  5. BCV - Ratings history (investor relations)bcv.ch · Financial strength
  6. BCV: Moody's credit opinion on Banque Cantonale Vaudoise, 16 Oct 2025 (hosted by BCV)bcv.ch · Financial strength
  7. Piguet Galland: Private clientspiguetgalland.ch · Services
  8. Piguet Galland: Management mandatespiguetgalland.ch · Services
  9. Piguet Galland: Estate planningpiguetgalland.ch · Services
  10. Piguet Galland: Independent asset managerspiguetgalland.ch · Services
  11. Piguet Galland: LSFIN PGSA FR (PDF)piguetgalland.ch · Third party payments

The bank

  1. Piguet Galland, websitepiguetgalland.ch

For Piguet Galland

Before we publish a significant negative finding that is not already public, we give the bank the facts and time to comment, on the same timetable for every bank. Decisions of regulators and courts are shown as they were published. Corrections we verify are published with the date of the change. Write to [email protected] quoting reference BK-CH-PIGUET-GALLAND-8886E5.

Reviewing this file with us

Families and their advisers read this file before they open an account. It can only be as complete as the documents we can find, and much of what sets a private bank apart, from its custody terms to the way a client team works, is rarely published.

If you represent Piguet Galland, one of our Bank Intelligence analysts can go through the file with you: correct anything that is out of date, add terms and documents that are not yet public, and set out what has improved since our last edition. The review is a paid engagement for the analyst's time and research.

The rating itself stays with our editor and follows what the documents show, so we cannot promise a particular result. When a review changes the file, this page notes that the bank took part, with the date and what was added.

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About this file

Researched by the PPLI.com research desk from the public sources listed. The rating is our editorial opinion; read how we rate.

Important information. Editorial opinion of PPLI.com on the date shown, based on public information, client experience and editorial judgment. Not a statement of fact, a credit rating or investment, legal, tax or financial advice; verify with the bank and your own advisers before acting. No liability is accepted for reliance on this content. Bank names and logos are used for identification only. Ratings are updated every quarter. This is the Q4 2026 edition, and a rating can change between editions if something material happens. Full disclaimer
Rating signed by Noam Cohen, Editor, Bank IntelligenceReviewed 6 November 2026Methodology 2.4Reference BK-CH-PIGUET-GALLAND-8886E5
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