Saturday, 7th November 2009

 

Merrill hires senior manager from Lombard Odier for Swiss unit

Merrill Lynch has taken on a new head of portfolio management in Geneva from Swiss private bank Lombard Odier Darier Hentsch, in order to expand the investment capabilities of the portfolio management team.

Pascal Bachy will report to Patrizio Merciai, head of discretionary portfolio management Switzerland.

Bachy has 16 years experience in the private banking sector. Prior to joining Merrill Lynch, he was a team leader and private banker in the private client asset management business at Lombard Odier. He was also a member of the investment committee and head of portfolio management for the firm’s Japanese operations.

Tags: Lombard Odier Darier Hentsch , Merrill Lynch , Switzerland

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

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

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