Caffort will be based in Geneva and work alongside five fund managers. The team covers continental Europe, the UK and Ireland, Japan and Asia Pacific.
He joins from Groupama Asset Management where he was responsible for a number of small/mid cap equity portfolios and reports to Bill Barker, head of the small cap equities team.
Richard Heelis, CIO of equities at Pictet Asset Management, said: "Alain brings a wealth of expertise and outstanding contacts from his network and will add considerable strength and depth to our small cap team."