Saturday, 7th November 2009

 

24 June 2009 - Mike Foster

Lombard Odier hedge fund chief expands his brief

Lombard Odier has handed Aziz Nahas, its hedge fund chief investment officer, the additional role of running its institutional equities portfolio.

Lombard Odier's hedge funds, under the 1798 Global brand, currently looks after Sfr400m. Institutional equities total a further Sfr3.5bn.

Managing partner Hubert Keller, who has championed 1798, said: "We have decided to follow a convergence strategy, which is bringing together the running of different divisions."

Lombard's 1798 Global head trader Lewis Katz will also look after long-only equities. The responsibilities of 1798 chief operating officer Damien Dwan will spread into institutional asset management , as will those discharged by chief risk officer Stephen Grobman. Lombard Odier's wealthy clients are managed separately, although they do buy institutional products from time to time.

Keller said an announcement about the future of Lombard Odier's bond division will be made in the near future. The latest appointments have been made following Serge Ledermann's departure as head of institutional asset management last year. Lombard Odier has also confirmed that it is winding up two of its fund of hedge funds, called Delta Global and Alternative Strategies, following redemptions.

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