Monday, 23rd November 2009

 

27 August 2008 - Mike Foster

Partner to quit Lombard Odier

Serge Ledermann, a partner at Lombard Odier Darier Hentsch, is set to leave the Geneva-based private bank next month.

Ledermann has been in charge of investment at Lombard Odier's institutional asset management business since 2001. A source at Lombard Odier said that Ledermann had decided to take a break before pursuing a new career direction.

Ledermann's reponsibility for the bank's Sfr10bn (€6.2bn) book of institutional balanced business will be taken over by senior partner Thierry Lombard. Sector funds will be led by colleague Hubert Keller. Sector funds based in Switzerland will be supervised by Bernard Droux.

Lombard Odier remains committed to its institutional business, which runs alongside its private banking activities. It closed its London-based institutional business in 2005, following defections and poor performance, but opened a London wealth operation last year.

Earlier this year Lombard Odier set up a new hedge fund operation called 1798 Global Partners, under investment chief Aziz Nahas, which has put together a series of strategies.

Most Read

  1. High net worth City workers mull relocating to Switzerland
  2. Miller wealth start-up eyes family office mandates
  3. Colonel Gaddafi's son buys £10m London property
  4. Lombard Odier hires from Coutts
  5. Blow for UK property barons as new venture posts £101m loss

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Diary: Utopia for Yacht Lovers

Looking to get more from your yacht? Why not share it with others?

More from People

  1. Top equity research executive rejoins Neuberger Berman
  2. Paulson appoints high-profile gold analysts for new fund
  3. Aberdeen takes control of Horlick's Bramdean
  4. Citi Private Bank hires head of investments for North America
  5. Citi Private Bank Hires Head Of Investments For North America

Related Content

  1. Lombard Odier hedge fund chief expands his brief

2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU

Tel: +44 (0) 20 7309 7788

Company No 3089347