Geneva Bankers Tap Old Ties to Find Riches Amid Arab Spring

Geneva’s bankers, who forged the biggest offshore hub for the Middle East super-rich after Saudi Arabia’s King Fahd built a summer palace in the city 35 years ago, are using the Arab Spring to counter client withdrawals.

Lombard Odier & Cie. plans to double assets under management for Middle East clients to 10 billion to 15 billion Swiss francs ($15.7 billion) over five years, said Arnaud Leclercq, head of Middle East and new markets at Geneva’s oldest private bank.