[ M E E T T H E D E S K | P I C T E T A S S E T M A N A G E M E N T ]
axes and flows, and maintaining continuous dialogue with counterparties.
“ Patience is key when it comes to trades in this area of fixed income, as positions can remain live for days before liquidity emerges,” explains Frew.
The importance of both coheads maintaining an active role in the trading and execution side of the desk is clear to see, with a hands-on approach lending itself to a keen eye for the details.
Guesnet explains:“ This daily involvement is critical as it helps to stay in touch with our traders’ day-to-day reality while at the same time being engaged with our portfolio managers, our brokers and market technology a light-touch management style – for senior colleagues, to a more hands-on approach when it comes to junior traders.
Speaking to the trading team’ s dynamic specifically, Guesnet enthuses:“ We are supported by a great team of both highly experienced traders, that brings a lot know-how, and younger ones that come from a more tech-oriented mindset.
“ Although no two days are alike, the common threads of execution excellence, risk management, and strategic oversight ensure that we remain both reactive and proactive in shaping our team ' s success.”
Also important for the co-heads is a robust backup network which they stress is vital to the work being done. Specifically, this refers to having complete confidence in designated backup team members in order to ensure business continuity.
“ In my case, my trusted backup is Mark Parmar [ senior credit trader at PAM ] whom I have maintained a professional relationship for 20
“ The ability to balance portfolio manager objectives with productive counterpart relationships is often the differentiating factor between a good trade and a great one.”
JAMES FREW providers. It’ s a dynamic that has strengthened our ability to innovate and respond to the evolving needs of our clients and the market.”
Whilst both Frew and Guesnet spend around 80 % of their time trading, the remaining 20 % is dedicated to managing the team.
Specifically, the team trades all asset classes within fixed income and each trader or pair of traders own their asset class, explain the co-heads, adding that the desk continually coordinates with portfolio managers, compliance, operations, client onboarding teams, technology partners, and senior leadership.
Frew and Guesnet add that their approach differs from years,” asserts Frew.“ We have collaborated in various capacities, including as a client, colleagues in two firms, and as a referral when he was recruited by another firm. Our entire team operates with this structured backup approach, underscoring organisational resilience and reliability.”
Indeed, when it comes to ensuring the desk’ s longevity and continued success, a well-rounded, balanced approach is decidedly key for both Frew and Guesnet.
Sharing their perspective on what makes for the best performance on an individual level, both are in agreement that the strongest traders combine technical ability with humility, adaptability, judgment, and relationship management.
“ At Pictet, we benefit from a diverse mix of backgrounds: some traders with deep sell-side experience, others homegrown within Pictet, and several with advanced technology and coding expertise. This blend allows us to approach markets
30 // TheTRADE // Q3 2025