January 22, 2014 / 2:08 PM / 5 years ago

Lombard Odier says former Deutsche Bank exec to become partner

ZURICH, Jan 22 (Reuters) - Former Deutsche Bank risk chief Hugo Baenziger will become a managing partner of Lombard Odier, the family-owned Geneva-based private bank said on Wednesday.

“As we continue to grow our private client, institutional and banking infrastructure businesses, Hugo’s breadth of expertise, especially in finance and risk management, will be a significant advantage in our international expansion,” said Patrick Odier, Lombard Odier’s Senior Managing Partner.

Lombard Odier is better known as the largest Swiss private bank to say it would work with U.S. officials in a crackdown on lenders suspected of helping wealthy Americans evade taxes through hidden offshore accounts.

Lombard, with 225 billion Swiss francs in client assets, reorganised its businesses last year to limit partners’ liability and increase transparency, widely seen as an attempt to limit fallout from the U.S. probe. (Reporting By Katharina Bart)

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