Lombard Odier is naming a fixed income veteran to run its asset management arm. She fills a role made vacant as the current head, Hubert Keller, heads for Geneva for the senior partner role at the Swiss wealth manager.
The investment arm of Geneva's Lombard Odier is naming Nathalia Barazal as its new head, it said in a memo to staff seen by finews.com. Barazal replaces Hubert Keller, who will become senior partner of the Swiss wealth manager in two years' time.
She is a 15-year veteran of Lombard Odier and a veteran asset manager: she began her career as in bond fund management with J.P. Morgan in 1997. Barazal is currently one of 20 Lombard Odier capital partners, which make up the bank's second tier of leadership.
Asset vs Wealth Management
The bank is run by seven managing partners, including descendants of its founding families. Keller's (pictured below) appointment as senior partner came shortly after crosstown rival Pictet voted Renaud de Planta, the head of its asset management unit, to senior partner.
Both moves are viewed as acknowledgement of the growing importance of asset management for profits, rather than private banking. Lombard Odier replenished partner ranks last year with Swiss veteran Alexandre Zeller, after ex-Deutsche Banker Hugo Baenziger departed abruptly.
Barzal bolstered Lombard Odier's convertible bond business to $8 billion, from $200 million when she joined in 2004, the bank said. She will continue to run the convertible bonds and fixed income franchises during a transition period. Keller said Barazal is part of Lombard Odier's long-term succession planning at the investment arm.
