Pictet Group, the Swiss wealth manager, is cautioning against crypto investments amid the recent industry turmoil. “Crypto will be an asset class that we cannot ignore, but today I don’t think there is a place for private bankers and for private bank portfolios,” Tee Fong Seng, chief executive officer at the Geneva-based firm’s Asia wealth management arm, said on a panel at the Bloomberg Asia Wealth Summit in Singapore on Thursday. The crypto industry has seen a meltdown this year amid crashing valuations, the failure of hedge fund Three Arrows Capital and other companies, and numerous attacks by ...