Lombard Odier’s Kotchoubey Leaves Swiss Bank’s Moscow Office

Alexander Kotchoubey, executive vice president responsible for the Russian market at Lombard Odier Darier Hentsch & Cie, left the firm to “pursue other projects.”

Kotchoubey departed last month after more than four years at Geneva’s oldest private bank, he said by telephone. François Mutter, a spokesman for Lombard Odier, declined to comment on the circumstances of the departure. Kotchoubey joined the firm in 2008 from Renaissance Investment Management, where he was deputy chief executive officer.

The Swiss bank opened an office in the Russian capital two years ago to target the $20 billion in funds that Kotchoubey estimated wealthy Russians held onshore. The company hired Stéphane Ulcakar as senior vice president of the Moscow office from Boston Consulting Group earlier this month, Vedomosti newspaper reported, without citing anyone.

Lombard Odier competes with foreign banks including Credit Suisse AG, UBS AG (UBSN), Deutsche Bank AG and Union Bancaire Privée to manage Russians’ wealth.

To contact the reporter on this story: Jason Corcoran in Moscow at jcorcoran13@bloomberg.net

To contact the editors responsible for this story: Gavin Serkin at gserkin@bloomberg.net; Frank Connelly at fconnelly@bloomberg.net

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