Lombard Odier to Target U.S. Pensions for Hedge FundsGiles Broom
Cie. Lombard, Odier SCA, Geneva’s oldest bank, hired Nancy Everett to help build business from U.S. institutional money managers such as pension funds.
Everett joined Lombard Odier after running BlackRock Inc.’s U.S. fiduciary management business from 2011 to 2013, the Swiss bank said in a statement today. Everett was formerly chief executive officer of Promark Global Advisors Inc., and chief investment officer for Virginia Retirement System, where she began her career in 1979.
“Investors’ needs in this economic environment are increasingly sophisticated and as our U.S. business expands to respond, Nancy’s experience will help,” Hubert Keller, a managing partner at Lombard Odier overseeing the asset-management unit known as Lombard Odier Investment Managers, said in a statement.
Lombard Odier, traditionally a private bank focused on affluent individuals and families, traces its Swiss roots to 1796. The firm increased assets managed for institutional clients to $47.7 billion at the end of 2013, from $25.2 billion at the end of 2008, as global markets rebounded from the financial crisis, according to the company.
Everett will be based in New York, where Lombard Odier has about 50 staff running alternative investment strategies and other services for international institutional clients. Lombard Odier’s hedge fund managers include Steven Bulko, who oversees about $1.2 billion.
The bank looks after about $200 billion for private and institutional clients globally, including assets held in custody.