Andreas Arni unexpectedly quit the Swiss bank of Credit Suisse earlier in September. Today it emerged that he has joined a Geneva-based private bank.

Lombard Odier appointed Andreas Arni as head of the Zurich office as of December 1, 2019, the company said in a statement on Thursday. He will take charge of the Swiss domestic banking business, a newly created position within the bank.

Earlier this month, the manager had surprised with the announcement that he will leave Credit Suisse. At the Swiss No. 2 lender, Arni had the prominent task of building the entrepreneurs desk (E&E), key to the company’s strategy to become an entrepreneurs’ bank. Credit Suisse decided not to replace Arni after his departure.

The team of some 90 advisers who focus on this segment henceforth will report to the regional heads of business instead.

Product Expansion Bid

At Lombard Odier, Arni, known for his dynamic and hands-on approach, will be managing teams in Zurich, Geneva, Lausanne, Vevey and Fribourg. He will focus on boosting growth in Switzerland and expand the product offering for the bank’s clients.

Arni will report to Frédéric Rochat, co-head of private clients.

Entrepreneurs' Bank

The appointment of a banker such as Arni shows that private banks are trying to get closer to the business with entrepreneurs as well. Banks such as Reyl have already added investment banking services to their portfolio and will manage not only the private assets of rich entrepreneurs but also their firms.

Arni is a specialist for this two-pronged approach. Before joining the E&E desk at Credit Suisse, he had been in a similar division over at arch-rival UBS Switzerland.