(CNN) -- They've been in the banking business for more than 200 years, Pictet and Company came to prominence when Europe was booming, specializing in personalized, discrete banking services. Senior managing partner of Swiss bank Pictet & Cie, Ivan Pictet talks to CNN's Andrew Stevens. Since 1980, the company has grown five-fold to be one of the biggest banks in Switzerland. But growth hasn't changed tradition says Ivan Pictet. CNN's Andrew Stevens met with Ivan in China to talk about leading the banking dynasty into today's tumultuous financial water and what really defines Swiss banking. Pictet: I think Swiss banking has changed, it still has a very strong position in the world's banking, but it has changed. Banking secrecy has evolved toward the new legislation on money laundering and so on, so confidentiality is not defined the same way today as it would have been, or not protected today as it would have been 25 years ago.
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Ivan Pictet, senior managing partner of Pictet & Cie speaks in The Boardroom
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Pictet & Cie has been in business 200 years, is one of Switzerland's biggest banks
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Known for discrete banking, new legislation has changed the bank's operations
Pictet: @placeholder has had a profit participation system since 1991.