Swiss Bank Hires Coutts Executive for London Wealth Expansionby
Duncan MacIntyre to head Lombard Odier U.K. private clients
Company oversees $120 billion for rich individuals worldwide
Lombard Odier, the Geneva-based private bank and asset manager, hired Duncan MacIntyre from Coutts & Co. to oversee a planned expansion of its U.K. wealth management business.
MacIntyre, 44, will take over in January as chief executive officer of the U.K. private client business, Lombard Odier said in a statement on Monday. He will report to Henry Fischel-Bock, head of domestic European private clients for Lombard Odier.
MacIntyre worked in private banking at JPMorgan Chase & Co. before running Coutts Private Office within Royal Bank of Scotland Group Plc.
The appointment is part of plans to expand services to U.K. clients, Fischel-Bock said in the statement. Swiss banks are investing in London and Luxembourg to gain market access to the European Union and as EU countries crack down on taxpayers who use Swiss bank accounts to hide money.
London is “more than ever” a strategic priority for Lombard Odier, according to Fischel-Bock.
Lombard Odier oversaw $120 billion for affluent people globally at the end of June. It managed about $50 billion for institutional clients such as pension funds and provided technology and banking infrastructure services for $53 billion of client assets.
Established in 1796, the bank is registered as a corporate partnership in Switzerland called Compagnie Odier SCA.