Swiss bank Lombard Odier has announced a shuffle of management at its Asian private bank.
The current head of Asia, Vincent Duhamel will become chairman of the Asia board for Geneva-based Lombard Odier. As a result, Duhamel will relinquish his Asia Chief Executive position from July, the boutique bank said in a press release.
Vincent Magnenat, Chief Executive of the Singapore office and head of Asia private banking since early 2014, will be appointed CEO of Asia in addition to his current role as CEO of the Singapore office.
Magnenat will also continue to maintain oversight of the Asia private banking business from Singapore.
Asian Growth Engine
Prior to joining Lombard Odier, Magnenat spent close to nine years at Société Générale, where he led regional sales and marketing activities for the private bank in Asia. He began his private banking career at Credit Suisse in Switzerland and relocated to Singapore in 2002.
«Asia has become a key growth engine for the Group. We have operated in the region for 30 years and are as committed as ever to further expanding our business and offering there,» said Lombard Odier partner Hubert Keller.
Building Through Partnerships
As well as adding to its Hong Kong and Singapore units Lombard Odier has forged a number of strategic partnerships with financial institutions in Thailand, the Philippines, South Korea, China and Japan in order to provide the clients of those organizations onshore access to Lombard Odier’s wealth management platform.
Europe-based partners Keller and Hugo Baenziger will remain members of Lombard Odier's Asia board.
