The former Credit Suisse manager for Switzerland has taken up his post at Lombard Odier. The industry will be watching very closely to see what he does at the Geneva-based private bank.
Serge Fehr completed his first week on the job at Lombard Odier, having officially taken up his position as head of the Swiss home market at the Geneva-based private bank at the beginning of August. The bank formally announced his appointment on Linkedin.
All eyes in the Swiss financial industry are currently on Fehr, who headed private banking at Credit Suisse in Switzerland before his move. Before it was taken over by UBS, Fehr quit his position at Credit Suisse in July last year. Then in March, his appointment as head of the Swiss Market at Lombard Odier became public.
Fearing the «Fehr Effect»
As finews.com reported at the time, his departure caused some nervousness at Credit Suisse Switzerland, with the bank fearing numerous client advisors would follow Fehr to Lombard Odier given the uncertainty swirling around Credit Suisse.
The fear became a reality with the Geneva-based institution becoming a popular address for Credit Suisse bankers. The transfer of an entire team in Zug allowed the bank to quickly open a new branch in the city.
Unlike competitors like Zurich-based private bank EFG, Lombard Odier never publicly courted Credit Suisse bankers and isn't commenting further on Fehr's appointment.
German-Speaking Switzerland's Potential
The assumption is that Fehr will use his first 100 days at his new employer to get to know employees and their clients. Only then can strategic initiatives be expected from the banker, who had a reputation at Credit Suisse as a people-oriented manager who would stand up for his staff.
It's seemingly obvious Fehr will push the business in German-speaking Switzerland, where Lombard Odier isn't yet strongly represented outside of Zurich.
