Dear reader,

Amid the upheavals in financial markets over recent decades, the number of instruments available to investors has proliferated, as has their complexity. Because nothing stands still, forecasting and mitigating risks are prerequisites for success, as is consistent decision-making. Early movers on BRICs, sophisticated management of hedge-fund exposures, Bonhôte-Immobilier’s consistent returns: our investment funds exemplify these principles.

The current period of negative returns represents a substantial challenge, but our independent status fuels our determination to find the best solution in every circumstance. Satisfaction for you is satisfaction for us.

Warmest regards,

AFTER HIS FATHER PASSED AWAY IN 1936, CLAUDE BONHÔTE TOOK OVER THE RUNNING OF THE BANK WITH SUPPORT FROM HIS SISTERS, COUSINS AND SOME FRIENDS OF THE FAMILY.

He was completely devoted to his bank, working carefully and persistently. Though his efforts led to prosperity, he never abandoned the sense of reserve and discretion so characteristic of Neuchâtel. Ever

cautious, Claude Bonhôte amongst local dignitaries acquired a knowledge of the canton’s economic and financial fabric that could hardly be equalled. For example, he also audited the books of Crédit Foncier Neuchâtelois, a local building society, and was on many occasions spokesperson for the Neuchâtel Canton Bankers Association. He was also a shrewd manager, chairing the Compagnie des Tramways - at the time in private hands - between 1954 and 1968. Continued on page 3.

IN 1936, CLAUDE BONHÔTE SUCCEEDED HIS FATHER

BICENTENARY COMMEMORATIVE BOOKThe commemorative book retracing the bank’s 200-year history is currently in finalisation phase. It will feature information on our recent history as well as a chapter dedicated to the group’s collection of ar tworks. It concludes with a discussion on

how private banking might evolve in the future. Amongst the well-known figures who have agreed to take par t in this thought process are Luc Ferry, philosopher, Jacques de Watteville, Swiss State Secretary and Adrienne Corboud Fumagalli, Vice-Chair of the EPFL.

JEAN-PAUL JECKELMANNCHIEF INVESTMENT OFFICER

EDITORIAL

Edition 4/April 2015www.bonhote.ch/200years 1815-2015

The Gazette of the Bicentenary

BANQUE BONHÔTE & CIE SA

The Geneva branch at 12 boulevard du Théâtre, ideally located at the heart of the banking district, between the Music School and the Grand Théâtre

WEALTH MANAGEMENT IN GENEVA

PAUL & HENRI CARNAL HALL IN ROLLE

Edition 4/April 2015www.bonhote.ch/200years

From left to right: Olivier Christe, Loic Burkhalter, Cecilia Villar, Patrick Reithaar, Amadeus Davoudi, Anne-Sophie Muller Chouet and Steve Métrallet - photo L. Wettstein.

IN 2009, BANK BONHÔTE OPENED A BRANCH IN THE MAJOR NATIONAL AND GLOBAL FINANCIAL CENTRE OF GENEVA, EXPANDING ITS OPERATIONS WITHIN FRENCH-SPEAKING SWITZERLAND.

Situated in the banking district, the Geneva branch markets the services of Bonhôte group to private and institutional Swiss-

THE PAUL & HENRI CARNAL HALL, IN ROLLE, WAS INAUGURATED ON 2 OCTOBER 2014 BY THE ROYAL PHILHARMONIC ORCHESTRA - A HIGH POINT IN THE REGIONAL CONCERT SEASON

As main sponsor, Banque Bonhôte was delighted to join forces with watchmakers Audemars Piguet to put on this exceptional event, attended by more than 900 guests. Designed by world-renowned architect Bernard Tschumi, the new “Le Rosey Institute” campus offers a space devoted to the study and practice of the performing arts - as well as the state-of-the-art concert hall.

based clients who are part of a larger world.

They are business owners whose interests lead them to the four corners of the globe, as well as financial intermediaries and occupational pension providers. Bonhôte offers a bespoke service to match everyone’s needs.

Renowned for its expertise, the branch’s reputation stretches far

beyond the borders of Geneva canton. The dedication of our staff - stationed permanently at the branch or working on short-term assignments - is spreading the Bonhôte brand far and wide.

“Open to the world, Bonhôte’s Geneva branch is an ideal meeting place.”

Like its host city, Bonhôte’s Geneva branch is open to the world, making it an ideal place for resident staff and specialists visiting from other group centres to meet with clients. At 12 boulevard du Théâtre, it is primely located to support the expansion of business amongst a clientele with extremely exacting standards.

The Gazette of the bicentenary - Banque Bonhôte & Cie SA

Paul & Henri Carnal Hall - Le Rosey - ©Paul & Henri Carnal Hall

(continued from page 1) In addition, he was a member of the Merchants Guild, where he occupied the position of secretary.From 1929, the bank was located at 1 rue Pury, a building that Bonhôte father and son had transformed in its entirety.

Claude Bonhôte

Last January, you may have seen the third visual - dedicated to Victor Hugo - in the advertising campaign of our bicentenary. The fourth visual in our series devoted to personalities figures who have shaped the future, covering the period from 1936 to 1987, features Marilyn Monroe. A global household name, Marilyn made history in the fim industry thanks to her talent as well as beguiling audiences, with their high proportion of male spectators.

After having managed the bank for 63 years, Claude Bonhôte gives in to the advide of Gaston Gaschen to sell the institution to the Cortaillod group. Vice-president of the group, Gaston Gaschen had conducted his apprenticeship at the bank and had remained in touch with Claude Bonhôte. Every year, he would pay him a visit asking, “What will happen to the bank when you are no longer here?” The two men, on first-name terms, had become close friends. For Claude Bonhôte, the new owners had to be from Neuchâtel. This was a sine qua non for parting with an

institution intertwined with his whole life.The sale of the bank to Cortaillod group brought down the curtain on an important chapter in the history of banking in Neuchâtel.However, this acquisition also kept the story alive, leading a few years later to the founding of Banque Bonhôte & Cie SA.Suffering from retinitis pigmentosa and now practically blind, Claude Bonhôte spent the final months of his life at the family-owned Maison Grise, nursed by his sister Denise.He remained a constant example of virtue till his death in his 86th year.

Edition 4/April 2015www.bonhote.ch/200years The Gazette of the bicentenary - Banque Bonhôte & Cie SA

1 rue Pury (left). On the right-hand side, at the end of the rue du Musée, the bank’s current headquarters can be seen. Drawing by Louis de Wesdehlen (1833-1904) «La rue Pury et la rue du Musée»

HISTORY OF THE BANK IN SIX INSTALMENTSPART 4: 1936 - 1987 CLAUDE BONHÔTE

ADVERTISING

© CORBIS

www.bonhote.ch/200years

When Marilyn won the Golden Globe in 1960,Banque Bonhôte & Cie SA was 145 years old.

© C

OR

BIS

OUR STORY

IN SIX PARTS 1936 - 1987

MARKETING HAS CHANGED MORE IN THE PAST DECADE THAN IN THE PRECEEDING CENTURY

The internet has upended the way in which we interact with advertising. With online campaigns having

Not long ago, the Protestants of Ge-neva celebrated the 500th anniversary of the birth of Jean Calvin. And one of the interesting topics explored was his relationship with money. It was refreshing to see that wealth is not in the least displeasing to God so long as morals and our neighbours’ interests are not forgotten. Private banking in French-speaking Switzerland, and hence Bonhôte, originated from this particular ethical tradition, permeated with a strong identity. Bonhôte is deeply rooted in its home canton, Neuchâtel. And, as a native Genevan, I am delighted to see that it has a branch

Marking its bicentenary, Banque Bonhôte & Cie SA is delighted to participate in the 20th anniversary of the Neuchâtel Art Centre, an emblematic forum for Switzerland’s contemporary art scene. It was founded in 1990 by Marc-Olivier Wahler, who went on to head up the Swiss Institute in New York and the Palais de Tokyo in Paris. Today, it is successfully managed by Arthur de Pury and his team and represents one of the symbols of Swiss contemporary art.

THE BANK OF FUTURE: MARKETING

QUAI OSTERVALD 2, 2001 NEUCHÂTEL, T. + 41 (0) 32 722 10 00, F. + 41 (0) 32 721 43 42, INFO@BONHOTE.CH, WWW.BONHOTE.CH

LATEST NEWS

Edition 4/April 2015www.bonhote.ch/200years The Gazette of the bicentenary - Banque Bonhôte & Cie SA

BONHÔTE AS SEEN BY...

gained the ascendency over offline manifestations such as traditional press and television advertising, it is worth asking the question how marketing will work in the future. Popular social media platforms will probably continue to loom large because advertising can be

personalised using new technolo-gy such as big data and artificial intelligence. Thanks to future advancements, advertisers might even be able to offer products and services tailored to your every need, including those you did not know you had!

in the heart of the city’s banking dis-trict. Bonhôte is big enough to cover a comprehensive range of investor needs but not so large as to be intimidating. Managers are in direct contact with clients; the atmosphere is relaxed, fostering trust and peace of mind.

“Bonhôte is big enough to cover a comprehensive range of investor needs in a climate of trust.”There are many ties between Geneva and Neuchâtel, some of which date back centuries. The Pury and Pourtalès families, and others besides, have looked out on both lakes, harbouring ambitions. Common roots, convergent beliefs and the same professional conscience: a Neuchâtel private bank is perfectly at home in the financial centre of Geneva. I am nothing but delighted about this bicentenary and wish Bonhôte the lasting success that is innate to it. This is a story for the sharing.

JACQUES-SIMON EGGLYHEAD OF THE ORGANISATION OF

THE SWISS ABROAD (OSA)