Geneva-based Lombard Odier is expanding into German-speaking Switzerland with a new office in Zug. It's adding an experienced team as well.
To strengthen its presence in the German-speaking Swiss market, Lombard Odier is opening an office in Zug and will staff it with a number of senior bankers and support staff, the bank said in a statement Thursday.
The team is headed by 30-year banking veteran Marco Arnold who worked for the past 15 years at Credit Suisse in Zug where he was head of its Entrepreneurs & Executives business, which fits with Lombard Odier's strategy as an entrepreneur-led bank. Before joining Credit Suisse, he was the team head for Executives & Entrepreneurs at UBS, also based in Zug, according to his Linkedin profile.
Strategic Objectives
Lombard Odier said its new Zug office reflects its strategic objective to further develop its presence in the Swiss-German market, and its commitment to maintaining close proximity to its local clients.
«With the recruitment of several senior bankers and assistants and the opening of an office in Zug, the bank is pursuing an important step in its Swiss domestic growth strategy and underlining its commitment to local market presence and client proximity,» according to the statement.
In March, Serge Fehr Credit Suisse's former head of Swiss private banking joined Lombard Odier. The same month, the bank launched a corporate advisory business catering to entrepreneurs, naming Maxime Dubouloz and Jules Boudrand to head the business, as finews.com reported.
The business was created to take advantage of the demographics of SMEs in Switzerland. Over the next five years, around two thousand SMEs in French-speaking Switzerland and 35,000 in the country as a whole, will change ownership and need advisory services.
Expanding into Zug is the next step in that strategic plan.
