Swiss private bank Lombard Odier elevated its top banker in Asia to management level. The move acknowledges inroads made by the discreet Genevan firm in recent months.
The Geneva bank named Vincent Magnenat a limited partner, with immediate effect. Magnenat joins 18 other partners nestled just beneath the seven managing partners under Patrick Odier who run Lombard Odier.
The move is an acknowledgement of Magnenat's success at the bank since joining four years ago. Seven months ago, he took over for long-standing Asia head Vincent Duhamel after three years as Singapore head and overseeing private banking in the wider region.
Asia is a key strategic growth market for the Swiss bank, and Magnenat will continue to be based in the region, according to an internal announcement by the bank seen by finews.asia.
Asia Recruiting
The former Société Générale banker has helped forged strategic partnerships for Lombard Odier with banks in Thailand and the Philippines, and also boosted relationship manager ranks in its three offices in Hong Kong, Singapore and Tokyo. Magnenat began his career as a private banker Credit Suisse in Switzerland, relocating to Singapore in 2002.
Lombard Odier manages one-third of its 242 billion Swiss francs in client assets for customers based in Switzerland, one-third for Europe-based customers and one-third for the wealthy in new markets – a substantial amount of which is in Asia, Chairman Patrick Odier said at a recent meeting in Singapore.
