* Full-year net 459 mln Sfr, revenue 2.06 bln
* Net new money 17 bln Sfr
* No mention of U.S. tax probe (Recasts with net profit, adds detail, background, quote)
By Maria Sheahan and Katharina Bart
ZURICH, Feb 6 (Reuters) - Swiss private bank Pictet has posted a net profit of 459 million Swiss francs ($499 million) for 2014, the first time it has publicly disclosed full-year results following a change in its structure which had endured for 209 years.
The Geneva-based private bank, Switzerland’s third-largest wealth manager, has been dragged into the spotlight because its switch to a limited partnership last year required some public reporting.
It made the change from a structure where its eight partners assumed unlimited personal liability after it became one of a handful of Swiss banks under criminal investigation in the United States for allegedly helping wealthy Americans evade taxes.
Pictet, which did not provide comparison figures from 2013, said on Friday yearly revenue stood at 2.06 billion francs. It said it had won 17 billion francs in fresh assets, which translates to a growth rate of 3.9 percent against its existing assets.
The bank said the new funds, a key indicator for future revenue, were evenly spread between private banking, asset management and a third unit for custody assets not directly managed by the bank, but did not provide specifics.
“We will continue to invest in employees and infrastructure,” Senior Pictet partner Jacques de Saussure said in a statement.
His remarks contrasted with rival Julius Baer, which said on Monday it would cut around 100 million francs in spending, including by cutting about 200 jobs, in response to the strong franc.
Pictet did not mention the U.S. tax investigation in its statement. In August, it said it had not set aside any provisions specifically to cover potential fines, as it could not adequately gauge the size of possible penalties.
Pictet, which is larger by assets than Baer but behind <UBS UBSN.VX> and Credit Suisse, said it would publish a full annual report in late April. ($1 = 0.9204 Swiss francs) (Editing by David Holmes)