The Geneva-based private bank said that its head of fundamental fixed income, Kevin Corrigan, will leave for another firm, effective immediately. The move follows the merger of the team led by Corrigan with fixed income teams devoted to Switzerland and Asia, which the bank disclosed in April.

Yannik Zufferey had taken over as fixed income investment chief as part of that revamp.

Corrigan's departure was first reported by «Financial News» (behind paywall). 

Fixed Income Pillar

«The reorganisation of our fixed income capabilities allows for closer collaboration of internal resources and gives us capacity to provide clients with greater investment coverage across the corporate, developed and emerging bond markets,» Lombard Odier's overall investment chief Jan Straatman said in a statement.

Zufferey has been with Lombard Odier since 2004 and co-managed credit strategies together with Corrigan, who joined from Goldman Sachs in 2010. Lombard Odier considers fixed income a key growth component for its investment arm. The fundamental fixed income arm previously managed by Corrigan now account for more than 16 billion Swiss francs under management at the Swiss bank.