The United States and European Union have launched coordinated sanctions targeting Russia’s energy sector, intensifying pressure on Vladimir Putin to end the Ukraine conflict. Simultaneously, Tesla reported declining quarterly profits despite record vehicle deliveries, as Elon Musk continues his pursuit of a controversial $1 trillion compensation package. These developments highlight the ongoing geopolitical tensions and corporate challenges shaping global markets.
about New Sanctions Hit Russian Oil, Tesla Profits DropLombard Odier
0 in Finance and 0 in Crypto last weekLombard Odier Faces Leadership Exodus Amid Expansion Struggles
Lombard Odier’s ambitious growth plans in Zurich have hit turbulence as top executives, including institutional client head Raphael Kron, depart. Kron, a veteran in Swiss finance, left after four years to join a financial boutique. The bank’s recent hiring spree, including ex-Credit Suisse private banking head Serge Fehr and UBS alumna Sabine Heller, has yet to yield the expected client growth. Sources indicate limited success with key target segments, casting doubt on Lombard Odier’s ability to compete effectively in the Swiss private banking landscape.
about Lombard Odier Faces Leadership Exodus Amid Expansion StrugglesAlphaswiss Appoints Daniel Elias as New Partner and COO
Alphaswiss, a Geneva-based independent asset manager, has appointed Daniel Elias as Partner, COO, and Deputy CEO, effective April 1, 2025. With over 25 years of experience in private banking, including roles at Edmond de Rothschild and Lombard Odier, Elias is expected to enhance the firm’s strategic capabilities in a complex market environment. Founded in 2014, Alphaswiss specializes in wealth management for high net worth clients.
about Alphaswiss Appoints Daniel Elias as New Partner and COOAlpha Swiss Appoints Daniel Elias as New Partner and COO
Alpha Swiss, a Geneva-based independent asset manager, has appointed Daniel Elias as Partner, COO, and Deputy CEO, effective April 1, 2025. With over 25 years of experience in private banking, including roles at Edmond de Rothschild and Lombard Odier, Elias is expected to enhance the firm’s strategic capabilities in a complex market. Founded in 2014, Alpha Swiss specializes in wealth management for high net worth clients.
about Alpha Swiss Appoints Daniel Elias as New Partner and COOLombard Odier’s Zurich Expansion Faces Earnings Decline Amid Staff Changes
Lombard Odier’s ambitious expansion in Zurich is facing significant challenges, with a major attack on its operations leading to a potential crash. The private bank, which aimed to attract numerous high-paid employees from CS and UBS, is now grappling with declining earnings.
about Lombard Odier's Zurich Expansion Faces Earnings Decline Amid Staff ChangesLombard Odier Reports Record Year in Private Banking for 2024
Lombard Odier reported a record year in private banking for 2024, with assets under management rising 12% to CHF 215 billion, driven by new client acquisitions. Despite a 19% drop in net profit to CHF 179 million due to lower interest earnings, the bank maintains a strong balance sheet with a core capital ratio of 32%. Looking ahead, the bank is cautiously optimistic for 2025, anticipating a shift in interest rates that could support economic growth.
about Lombard Odier Reports Record Year in Private Banking for 2024Safra Plans Acquisition of Saxo Bank Amid Digital Banking Challenges
Safra Sarasin, a prominent Swiss private bank managing over 200 billion francs in client assets, is reportedly planning to acquire Saxo Bank, which has over 100 billion euros in assets. This move follows the failure of Safra’s digital banking initiative, prompting a search for a robust solution in Saxo’s established trading platform. If successful, Safra aims to expand Saxo’s operations first in Europe and then globally.
about Safra Plans Acquisition of Saxo Bank Amid Digital Banking ChallengesAndreas Arni appointed CEO of Marcuard Family Office succeeding Martin Sutter
Andreas Arni has succeeded Martin Sutter as CEO and Managing Partner of Marcuard Family Office, effective January 1. Sutter, who led the firm for over a decade, will transition to the Board of Directors. Arni brings over 20 years of banking and wealth management experience, having previously managed Lombard Odier’s operations in German-speaking Switzerland.
about Andreas Arni appointed CEO of Marcuard Family Office succeeding Martin Sutter