Graduate - Distressed Debt

The Pictet Group is one of the world’s leading independent wealth and asset managers. Founded in 1805 and headquartered in Geneva, Switzerland, the Group is represented in 30 offices in financial centres worldwide, currently employing over 5000 people. Pictet has been present in London since 1980, and employs near 400 people. Pictet Asset Management (PAM) manages the assets of some of the world’s largest institutions, financial intermediaries and their clients. Our culture welcomes independent thinkers and centres around investment excellence, a long-term perspective and a dedication to client service.

Fixed Income (FI) is formed of a team of 125 investment professionals located across 9 cities (Frankfurt, Geneva, London, Paris, Singapore, Hong Kong, Shanghai, Zurich & New York). Our Distressed Debt strategy plays an important role in PAM’s FI business. The strategy is run by a team of 4 highly experienced investment professionals, who have a long track record of working together delivering double digit annualised returns since inception in 2009.

Your role: Beginning in September 2026, you will embark on an 18-month rotational programme across a variety of teams with a strong focus on building a holistic understanding of PAM and our FI business. After the rotational programme, you will return to Distressed Debt as an Investment Analyst on a permanent basis. As an Investment Analyst, you will support the Distressed Debt team by assisting in the fundamental analysis of leveraged and stressed issuers, including detailed financial statement review and credit ratio analysis. You will help build and maintain financial models, monitor capital structures and covenants, and prepare clear internal credit notes and/or memos as appropriate. The role involves tracking market, sector and company-specific news, contributing to idea generation, and updating comparables and watchlists while developing deep expertise in high yield and distressed credit investing. Over the course of the programme, you will be fully supported in studying for meaningful and relevant qualifications such as the CFA. You will also attend our Graduate Training Programme in Geneva with graduates from across the Pictet Group. The programme includes interpersonal and personal leadership training with a focus on communication and presentation skills.

Your profile:

• Education and technical foundation: Strong academic record with an undergraduate degree in Finance, Economics, Accounting, Mathematics or a related quantitative discipline (2:1 or above / international equivalent). Solid understanding of corporate finance, financial statements, and basic fixed income concepts gained in part through relevant internships or work experience. Working knowledge of Excel and PowerPoint; exposure to financial modelling is highly desirable. Knowledge of AI instruments and basic coding skills. Curiosity about macroeconomic, sector and event-driven factors that drive high yield and distressed valuations, and willingness to develop a differentiated investment view.
• Communication and writing: Clear written communication skills, with the ability (or potential) to contribute to concise credit notes and research outputs for internal stakeholders. Confident verbal communication to discuss analysis with team members and ability to respond to questions under time pressure.
• Teamwork and work style: Collaborative mindset and ability to work effectively within a small, high-intensity team alongside investment professionals and other analysts. High attention to detail, strong organisational skills and the ability to manage multiple workstreams and tight deadlines in a fast-moving market environment. Proactive, self-starting attitude, with a willingness to take ownership of tasks, learn from feedback, and build expertise in distressed and high yield credit over time.
• Other requirements: Fluency in English; additional European languages are an advantage for coverage of cross-border high yield and distressed situations.

Diversity & Inclusion: Pictet is an equal opportunity employer and is committed to creating a diverse environment. We respect all individuals and seek their inclusion in the workplace.