The changes at Lombard Odier are taking place at monthly intervals: Firstly, at the end of September, the appointment of Chris Bonello as the new Head of the UK and Northern Europe Desk in Zurich and then, four weeks later, that of Mark Goddard as the new CEO in London.

The UK is of central importance to Lombard Odier. The market on the island is the second most important for the Geneva-based private bank in terms of client numbers. It has doubled its business in the UK since 2018 and is aiming for further growth here. The conditions for this are not bad. In the UK, Lombard Odier has seen a sharp rise in demand for financial services in recent months. «We did a lot of things right in the past,» Duncan MacIntyre, Limited Partner and UK Region Head.

This has not become any easier since Brexit. Nevertheless, following intensive negotiations, the UK and Switzerland concluded a financial services agreement last December that is largely based on the mutual recognition of regulations. Now the agreement still has to pass through the parliaments in both countries.

«Nobody In The UK Has Interest In Getting Rid Of The Rich»

Duncan MacIntyre is confident that this process will also go smoothly, as he said at the meeting with finews.ch. «The Swiss financial centre is important for very high net worth individuals living in London,» he emphasises.

According to MacIntyre, the tax reform planned by the UK government, which will particularly affect wealthy individuals who have previously benefited from ‘non domiciled’ tax status, is unlikely to change this. «Nobody in the UK has a serious interest in getting rid of the rich,»he argues.

With a team of 75 people in the UK Region, Lombard Odier has been able to establish itself as a high-end investment house in the field of tension between family offices and big banks. According to MacIntyre, Lombard Odier's UK structure also played a role here; the financial house operates branches in Geneva, Zurich, London and Nassau. «Very wealthy people are very mobile. This also applies to their children. We take this into account with our single business model across all four offices,» he says.

Move Into New Offices In The City Of London

Learning from customers is a point to which Lombard Odier attaches great importance. «We strive for partnerships. This is only possible if you really offer solutions that are tailored to the client and not just off the shelf,» he emphasises. In this business, you can't rest on your laurels, he says.

But a little celebration is in order. This will be appropriate at the end of this year at the latest. On 27 December, Lombard Odier will move into new offices in the City of London. «We are really looking forward to our new home,» says MacIntyre.