Bank Lombard Odier & Co

from Wikipedia, the free encyclopedia
  Bank Lombard Odier & Co
logo
Country SwitzerlandSwitzerland Switzerland
Seat Geneva , Switzerland
legal form Limited partnership
IID 8760
BIC LOCYCHGGXXX
founding 1796
Website www.lombardodier.com
Business data 2018
Total assets 259 billion CHF
Employee 2480

The Lombard Odier Group is an independent Swiss banking group founded in 1796 . Its headquarters are in Geneva . The group's business activities are divided into three areas: private customer business ( asset management ), asset management (mainly the management of investment funds ) and back and middle office services for other financial institutions (e.g. banking IT). At the end of 2018, the bank had assets under management of 259 billion Swiss francs, which were managed through these three business areas, making the group one of the largest players in the Swiss financial sector. The group offers its services to a private and institutional customer base. As the oldest private bank in Geneva, the group emerged from the merger of Lombard, Odier & Cie with Bank Darier, Hentsch & Cie in 2002; the latter was founded in 1796 by Henri Hentsch. The company was therefore founded in 2002 under the company name Lombard, Odier, Darier, Hentsch & Cie, which was simplified to the Lombard Odier Group in 2010. Nevertheless, the company still bears the names of these four previous partners on its official logo.

Since 2014 the bank has had the status of a limited liability company (GmbH). The Lombard Odier Group is a legal holding company under Swiss law and has been called Compagnie Lombard Odier SCmA since 2016. This holding company owns all of the companies belonging to the group, especially Bank Lombard, Odier & Cie SA and Lombard Odier Asset Management (Europe) Limited in London, which forms the group's asset management arm. In the international asset management sector, the group is known as Lombard Odier Investment Managers (LOIM).

The Lombard Odier Group began to establish itself internationally in 1951 by gradually opening branches in the USA, Europe and Asia. In 2018 the group employed around 2500 people worldwide.

history

The founding families

The Lombard family (von Lombardi ) came to Geneva in 1573 from Tortorella ( southern Italy ), where they suffered from religious persecution. Theodoro Lombardi's two sons, César and Marc-Antoine Lombard, were active in the equestrian industry and in the horse trade. In 1589 they received the title of Geneva citizen for their services in the fight against the Duke of Savoy . Jean-Gédéon Lombard, a descendant of César Lombard in the 6th generation, joined Bank Hentsch, Lombard & Cie in 1798, which caused the Lombard family to enter the Geneva banking business.

The Odier family is first mentioned in Geneva around 1714, at the same time that Antoine Odier received his title as a citizen of Geneva. The family came from Pont-en-Royans in France . Members of the family worked as politicians , doctors , artists , engineers and later as bankers. Charles Odier joined Bank Lombard, Bonna & Cie in 1830, which was later called Lombard, Odier & Cie.

The Darier family came to Geneva from the Dauphiné region in France in 1738 . Louis Darier died shortly after the birth of his son Hugues Darier, who became an important figure in the watchmaking trade and received the Geneva citizen title in 1787. Jules Darier-Rey, Hugues' grandson, joined the Chaponnière & Cie bank in 1873. The company was transformed into Darier, Chaponnière & Cie in 1875 and then Darier & Cie in 1880. Another son of Hugues Darier, Jean-Louis Darier (1766-1825), initially contributed to the establishment of the Ferrier, Lullin & Cie in 1795. However, this organization remains without any connection to what Lombard Odier is today.

The Hentsch family came to Geneva around 1758, while Pastor Benjamin-Gottlob Hentsch emigrated from Niederlausitz to work as a tutor in Switzerland. His son Henri Hentsch (1761–1835) founded the main bank in 1796, which was the cornerstone of what is now the Lombard Odier Group.

Origins of the bank: 1796–1800

Henri Hentsch (1761-1835)

From 1789, business and financial trade in Geneva was influenced by the French Revolution . In 1793 Henri Hentsch was arrested by the Geneva revolutionaries and temporarily exiled to Nyon , where he and an employee started a silk trading business (Edmé Mémo). Despite an environment of economic difficulties and increasing unemployment, Henri Hentsch returned to Geneva to found the bank Henri Hentsch & Cie on January 11, 1796 at the age of 35. The company, conceived as a "silk and sales house", initially traded silk in parallel to its banking activities. This was a common format at the time, but the company quickly gave up trading to focus on banking as its only focus. The company allowed dealers to borrow debt to negotiate changes to pay and in general trade in precious metals perform as well as stock exchange transactions. All of this happened at a time when several currencies were in circulation in Geneva.

On April 26, 1798, the Republic of Geneva was annexed to France by Napoleon Bonaparte . Henri Hentsch's cousin Jean-Gédéon Lombard eventually became a member of the Geneva City Council. Jean-Gédéon, initially the proctor of Henri Hentsch, became his partner at the bank on June 19, 1798. The company then took on the name Henri Hentsch & Lombard. Shortly thereafter, however, Henri Hentsch and Jean-Gédéon Lombard disagreed on the strategy to pursue in the face of the climate of the local economic downturn; Jean-Gédéon Lombard wanted to limit the risks inherent in focusing on bills of exchange, which resulted in fixed commissions, while Henri Hentsch, known for his enterprising and tenacious nature, pushed them into the international market, particularly for financing Business under the leadership of the French Empire. On September 22, 1800, the two partners separated amicably and the bank reverted to its previous name Henri Hentsch & Cie, while Jean Gédéon Lombard founded the Lombard Lullin & Cie bank with his brother-in-law Jean-Jacques Lullin.

Lombard, Odier & Cie

Jean-Gédéon Lombard (1763-1848)

Lombard, Lullin & Cie were badly affected by the economic environment in their first years of banking. Due to the bankruptcy of the company Corsanges in Lyon , Jean-Gédéon Lombard lost 30,000 francs in 1800, so that Jean-Jacques Lullin went bankrupt. Nevertheless, the company was able to continue its business activity. Jean-Jacques Lullin left the bank on December 31, 1815, but remained a limited partner until his death in 1837. Therefore, the company took the name Jean-Gédéon Lombard & Cie from 1816 until January 1, 1826, when Jean-Gédéon Lombard entered into a partnership with Paul-Frédéric Bonna. The bank then took on the name Lombard, Bonna & Cie. On March 31, 1830, Paul Frédéric Bonna left the company and founded his own bank, Bonna & Cie. The bank remained active for almost a century before getting into trouble in 1920 and being incorporated into Hentsch & Cie.

In 1830, Jean-Gédéon Lombard (aged 66) handed the bank over to his eldest son, Jean-Eloi Lombard. On April 1, 1830, he appointed Charles Odier as deputy managing director, and the bank was henceforth called Lombard, Odier & Cie. Charles Odier, then 25 years old, had learned the banking profession at Gabriel Odier & Cie, which was run by his Parisian cousin, and had significant assets from the success of F. Courant & Odier, which he founded in Le Havre in 1825 for the import of cotton from the USA . Jean-Eloi Lombard devoted himself to local business, while Charles Odier turned to international business, thanks in particular to the USA contacts he had cultivated. Under the leadership of Jean-Eloi Lombard and Charles Odier, the bank financed infrastructure projects that shaped the industrial revolution . In 1834 Lombard, Odier & Cie helped finance the construction work on the Canal de Roanne à Digoin . This was a project that, despite the successful end result, was not profitable. In the period that followed, the company began financing railroads , and from 1852 to 1872 Charles Odier was the administrator of the railways in western Switzerland.

Also in 1834, Alexandre Lombard, the third son of Jean-Gédéon Lombard (aged 24), became a managing partner of the bank. At a time when the Wild West needed both financing and construction of facilities, roads, rails and canals, he was responsible for directing Lombard, Odier & Cie to the American market. This approach, considered risky given the timing of the end of the American financial crisis in 1837 , proved to be a successful strategy ten years later. When the political and economic environment in Europe deteriorated after the revolts of 1848 , the United States experienced strong expansion. Alexandre Lombard focused on financing American railroad companies. The bank issued letters to its customers with quotations for international stocks, which were difficult to access at the time. In 1857 the partners of Lombard, Odier & Cie participated in the establishment of the Geneva Stock Exchange.

On December 1, 1859, Charles Odier's only son, James Odier, became a partner in the bank. This was after his trip to the USA in 1854 and his marriage to Blanche Lombard, daughter of Jean-Eloi, in 1856. James Odier continued the growth of Lombard, Odier & Cie on American soil. In 1870 he joined the board of directors of the Geneva branch of the then company, which later became Banque de Paris et des Pays-Bas SA (Bank of Paris and the Netherlands). Together with Jules Darier-Rey, he also founded the Geneva life insurance company Genevoise Compagnie d'Assurance sur la Vie in 1872, which was later run by his son Émile and then by his grandson Edmond. Alexis Lombard, son of Jean-Eloi Lombard and brother-in-law of James Odier, became a partner in 1866. He was a founding member of the Geneva Chamber of Commerce in 1872 , founded the Geneva Bank for Loans and Deposits in 1881 and, in 1907, after the founding of the Swiss National Bank, became a member of its Board of Directors. Alexis Lombard and James Odier remained partners in the bank for half a century and continued to run the company during the First World War , while their descendants Albert Lombard and Émile Odier were drafted to guard the national borders with the Swiss army . Business for the bank was unstable throughout the war. Nevertheless, thanks to the strength of the Swiss franc and the neutrality of the country , which enabled Swiss banks to function as havens in Europe, they survived this period without great adversity. In addition, the bank continued to focus primarily on investments in the US, which was not directly affected by the conflict. At the beginning of the 20th century, Lombard, Odier & Cie had only 16 employees and three employees, despite being one of the largest private banks in Geneva.

The Wall Street crash of 1929 had far-reaching effects on Europe and the Swiss banks

After the First World War, Émile Odier (partner from 1890), Albert Lombard (partner from 1908), Albert's first cousin Jean Lombard (partner from 1913) and Émiles son Edmond Odier (partner from 1919) took over the management of the bank. In 1921, Lombard, Odier & Cie took ownership of the Lenoir, Julliard & Cie bank, founded in 1795. In 1929 and early 1930s, the Swiss financial sector was hit by the Wall Street Crash of 1929 and the Great Depression that swept across Europe. Several Swiss banks have recapitalized or had to close, such as the Banque de Genève (1931) and the Comptoir d'Escompte de Genève (1934). Lombard, Odier & Cie, which was affected by its business in the American markets but wanted to show that it would not fail due to difficulties, changed its articles of association in 1933 to a general partnership which the group of managing partners would join in the event of a collapse held accountable to her personal fortune. Nevertheless, the bank was able to avoid such a situation. In 1937, after Edmond Odier's death, his wife, Francine Odier-Dunant, became a non-managing partner of the company so that it could maintain its registered company name and status. She held this position until her son Marcel Odier succeeded her in 1948.

When the Second World War broke out in 1939, Bank Lombard, Odier & Cie had 75 employees, 38 of whom were drafted into the Swiss Army. In 1940, Georges Lombard became a partner, but also had to do his military service. In 1941 the bank took over SAGED, bringing Richard Pictet, Jean E. Bonna (representing his grandson Frédéric Bonna), André Aubert and Raymond Barbey as partners of Bank Lombard, Odier & Cie. As in the previous World War, the bank managed to survive this period thanks to the country's neutrality, so that the Swiss banks were given the role of refuge for foreign and national capital.

After the Second World War, in 1948, Marcel Odier, Edmond Odier's eldest son, returned to George Lombard as a partner. According to estimates by the bank archives, private clients' assets amounted to almost CHF 1 billion in 1950 and came mainly from Switzerland, France and Belgium. Under the leadership of Marcel Odier, the bank began operating internationally, opening its first branch in Montreal in 1951 and establishing its first investment finance facility in Canadian real estate for its private clients. In 1957, Thierry Barbey became a partner in the bank, and in 1961 his first cousin, Yves Oltramare, achieved the same status. They then set up a financial analysis branch in the bank and led Lombard, Odier & Cie to create a new mutual fund management company targeting a client base of emerging institutional investors (such as pension funds and insurance companies ). Lombard, Odier & Cie began regularly to set up funds in which institutional investors could invest money for management. With the addition of Jean-François Chaponnière, Alain Patry and Fernand Oltramare as partners in 1964, then Laurent Dominici and Pierre Keller in 1970, the bank further developed its base of international institutional clients and opened business areas in America, Europe, the Middle East and Asia. In 1983, Lombard, Odier & Cie, in collaboration with Merrill Lynch Asset Management and Nomura Capital Management, launched a fund called "SCI / TECH" for institutional clients. The fund raised $ 835 million when it was founded, making it the largest run in the history of investment finance at the time. At the end of the 1990s, Lombard, Odier & Cie had around 800 employees, 600 of them in Geneva and 200 in offices abroad. In 2002 the company merged with Darier, Hentsch & Cie.

Darier, Hentsch & Cie

Letter from Madame de Staël to Henri Hentsch (1811)

From 1800 Henri Hentsch turned to the financing of the French Empire. The bank Henri Hentsch & Cie mainly organized the money transfer to Italy , where the empire was expanding. Thanks to his work, Henri Hentsch had established good relationships with the French upper class. In 1812 he founded the Henri Hentsch, Blanc & Cie bank in Paris, then settled in the French capital the following year and delegated the management of the Geneva bank to his three sons. In 1826 he founded a second Parisian bank, Hentsch, Lecointe, Desarts & Cie. After his death on August 14, 1835, his sons officially became partners of the Hentsch & Cie bank in Geneva, but did not take over the management of the companies founded by their father in Paris. In 1854, one of Henri Hentsch's grandsons, Jean-Alexis Henri Hentsch (aged 36), decided to travel to the western United States after twelve years as head of the Geneva family bank. Thereupon the management of the bank was given to his brother. At the time of the gold rush , Jean-Alexis Henri Hentsch settled in San Francisco . There he opened a bank that he called Hentsch & Cie. The business was a success. He was appointed Honorary Consul of Switzerland in San Francisco in 1859 and returned to Geneva in 1873, where he founded the Swiss American Bank, which then became the parent company of Bank Hentsch & Cie in San Francisco; However, it was not related to the current Lombard Odier group.

Édouard Hentsch (1829-1892)

In 1854, Édouard Hentsch (the grandson of Henri Hentsch) continued to run the Mathieu, Hentsch & Cie bank in Paris. He later became president of the Bank Comptoir national d'escompte de Paris and then the Banque de l'Indochine before founding the Swiss railway bank La Banque des Chemins de fer suisses. He was driven into ruin by the collapse of the copper trade in 1889, which is why the Bank Comptoir national d'escompte de Paris had to struggle with ever higher repayments of its private assets. Apart from this turbulence, Bank Hentsch & Cie continued its business activities in Geneva and was passed on by the family for several generations. In the 1950s, Bank Hentsch & Cie, under the management of Léonard Hentsch, became a pioneer in the distribution of investment funds in Switzerland.

In 1837, Jean-François Chaponnière founded Bank Chaponnière & Cie in Geneva, which became Bank Darier, Chaponnière & Cie in 1876 when Jules Darier-Rey joined as a partner. This bank became Darier & Cie. In 1880. The bank specialized in trading and transportation. Before becoming a partner in the bank, Jules Darier-Rey founded the first life insurance company in Geneva, La Genevoise, with James Odier in 1872. As with Hentsch & Cie, Darier & Cie has been run by the family for several generations. One of the first merger projects between Hentsch & Cie and Darier & Cie was planned by Hentsch-Bank in 1971, but was not successful at the time. The merger finally took place on January 1, 1991 to found Bank Darier, Hentsch & Cie. The newspaper Le Temps wrote that " those who knew the project well spoke as much of a takeover of Hentsch by Darier as of a merger among equals ".

Historical collaborations, 1840–1933

Lombard Odier headquarters on 4 Boulevard du Theater in Geneva (1918)

The banks Lombard, Odier & Cie, Hentsch & Cie and Darier & Cie have been brought into cooperation several times during their entire independent existence. In 1840, at a time when the industrial revolution required substantial funding but could not be insured by a single finance company, the banks Lombard, Odier & Cie, Hentsch & Cie, Candolle Turrettini & Cie, and Louis Pictet & Cie together to form the company "Quatuor", which invested primarily in European railways, in mines in the Loire region of France and even in Piedmont loans. In 1872, Quatuor merged with Omnium, another private banking association founded in Geneva in 1849 that brought together Paccard, Ador & Cie, PF Bonna & Cie and Ph. Roget & Fils. Together with the new Banque de Paris et des Pays-Bas, these companies created the Finance Association of Geneva with the aim of raising enough capital for financial operations at home and abroad. As a result, the Financial Union of Geneva (Geneva Finance Union) was founded in 1890, which emerged from the merger of the Geneva Finance Association and the railway bank La Banque Nouvelle des Chemins de Fer. The financial union, which was initially endowed with CHF 12 million in capital, consolidated 12 private banks, including Hentsch & Cie, Lombard, Odier & Cie and Darier & Cie. She also played an important role in the world of Geneva finances from 1890 to 1933, funding major infrastructure projects in Europe and the United States.

According to the book Les grandes heures des banquiers suisses (The most beautiful hours for Swiss bankers) published in 1986, this collaboration between Geneva private banks is at the core of their sustainability. It states that “the group of Geneva private banks withstood the pitfalls of the time better than other cities in Switzerland. In fact, these companies knew how to unite at the right time in order to participate intensively (via the financial union) in the underwriting business and lending at home and abroad. In addition, it enabled them to create and promote a number of investment companies (holding companies, capital investment companies, etc.) whose securities gave the Geneva stock market a long-term boost. "

2002 to the present

In 2002 the bank Lombard, Odier & Cie merged with Darier, Hentsch & Cie and founded the partnership Lombard, Odier, Darier, Hentsch & Cie. The partnership enabled the establishment of one of the most important private banks in Switzerland with 20 branches abroad, 2,000 employees and 95 billion euros in assets under management. The merger was accompanied by a cost and workforce reduction plan that was exacerbated at a difficult time by the collapse of the stock markets after the dot-com bubble burst .

In 2006, Bank Lombard, Odier, Darier, Hentsch & Cie was incorporated into Henokiens, an association that connects family businesses with a history of over 200 years. The descendants of the four historic families Thierry Lombard, Patrick Odier, Pierre Darier and Christophe Hentsch were included as partners in the bank until Pierre Darier left in 2010. Some time later the company simplified its company name and became Compagnie Lombard, Odier & Cie. Nevertheless, the company still bears the names of the four former partners on its official logo.

On January 1, 2014, the company changed its legal form, was converted into a stock corporation and gave up its status as a partnership , in which the partners were liable for their personal assets for an indefinite period. This change in status also meant that the bank was now obliged to publish its half-yearly and annual financial statements. Banks Pictet , Mirabaud and Gonet assumed the same status at the same time or shortly thereafter to meet transparency, regulatory requirements and risk limitation requirements after the private bank Wegelin & Co was closed in a dispute with the US Department of Justice . After losing its status as a partnership, the Lombard Odier Group was forced to leave the Association of Swiss Private Bankers (ABPS), which prescribed this status to its members.

On December 31, 2014, Thierry Lombard retired. In April 2016 his son Alexis Lombard left the company and moved to Bank Landolt & Cie in Lausanne , where he was a member of the board of directors. The Lombard Odier Group, which was no longer a partnership, was able to keep its name despite the departure of the Lombard family. On December 31, 2016, Anne-Marie de Weck retired after being appointed Deputy Managing Director of the bank in 2002. Annika Falkengren , former managing director of Skandinaviska Enskilda Banken (SEB), succeeded a few months later and became a partner of the company in July 2017. In parallel, the Lombard Odier Group announced the appointment of Denis Pittet as Deputy Managing Director. Anne-Marie de Weck remained on the bank's board of directors. On January 1, 2019, the group had six deputy managing directors: Patrick Odier, Christophe Hentsch, Hubert Keller, Frédéric Rochat, Denis Pittet and Annika Falkengren.

Business activity

Wealth management

The traditional activity of the Lombard Odier Group consists of asset management for a private client base (private banking). This business area primarily includes advice in the areas of asset management, financial investments , taxes and estate planning . Asset management is mainly overseen in Geneva, at Bank Lombard, Odier & Cie SA, as one of the companies operated by the Lombard Odier Group's holding company. According to the figures for the 2016 financial year, the assets of Swiss and international customers amounted to 112 billion francs, with around 50% of the total outstanding balance being managed by the Lombard Odier Group.

Asset management

Lombard Odier is also active in asset management; the company has several offices, of which the management company Lombard Odier Asset Management (Europe) Limited, based in London, is the leading one. This firm uses the Lombard Odier Investment Managers (Lombard Odier IM) brand, by which the group is known in the international wealth management sector. The business activity mainly comprises the management of mutual funds that are invested in stocks and bonds, which is complemented by investments of hedge funds. These funds are also available to clients of the private bank Lombard, Odier & Cie SA and to an international client base of institutional investors and financial advisors outside the Lombard Odier Group. The company is particularly active in the area of ​​socially responsible investment, primarily in creating a range of high-efficiency fixed asset investments. Since 2015, the management company Lombard Odier IM has also been active in the field of exchange-traded funds (ETF) following its partnership with ETF Securities . Lombard Odier's first ETFs were launched in April 2015 to replicate the results of indices in the bond market ( government bonds , corporate bonds and bonds from developing countries). In 2018, Lombard Odier IM was one of the first management companies to go through a settlement process managed by a private blockchain for the purchase of securities in the bond market . In 2016, the bank managed CHF 48 billion in its asset management branches, representing around 20% of the Lombard Odier Group's total outstanding balances.

Banking IT services

Since 2014, the Lombard Odier Group has been offering back and middle office IT services to other banking companies using a tool known as “G2”. In particular, this tool enabled users to manage their customer base and buy and sell securities in the market. Initially offered for six external institutes, “G2” won a further dozen banks as customers. The banks' IT operations were tested in 2016 in a completely separate company owned by the Lombard Odier Group holding company. Bank Lombard, Odier & Cie SA is itself a customer of the company, as are the external companies that it can furnish. In 2016, this Lombard Odier Group branch managed 63 billion Swiss francs from third-party customers, representing around 30% of the Lombard Odier Group's total outstanding balances.

philanthropy

The company's involvement in charitable and humanitarian activities began very early in the history of Bank Lombard, Odier & Cie. Alexandre Lombard participated in the support committee in his day with the aim of raising money to help the injured in the Sardinian war . He followed Henry Dunant's appeal , an initiative that led to the founding of the Red Cross in 1863 . His son Alexis Lombard was a member of the Administrative Committee of the Geneva General Hospice for 38 years and chaired the institution eleven times between 1876 and 1900. In 1910 and 1918, the banks Lombard, Odier & Cie and Hentsch & Cie were among the first Swiss companies to secure old-age provision for their employees through pension funds, which was taken over in 1947 by the newly founded Swiss Pension Fund .

The Lombard Odier Group is also active in the field of modern philanthropy. It has two different foundations: the Lombard Odier Foundation, a corporate foundation funded by donations from the Lombard Odier Group, and the Philanthropia Foundation, which focuses on donations from private customers.

The Lombard Odier Foundation pays out between 1 and 1.5 million Swiss francs annually to support projects in the areas of education and humanitarian work. Since its establishment, the foundation has also supported the development of kick campaigns, the aim of which is to support young, innovative companies by providing equity when they are set up. Patrick Odier has chaired the foundation since 2016.

The Philanthropia Foundation, established in 2008, enables the bank's clients to donate to charitable work in five main areas: humanitarian and social aid, education and training , medical and scientific research, the environment and sustainable development, and arts and culture. On the occasion of its 10th anniversary in 2018, the foundation announced that it has received 116 million francs in donations since the beginning and that 59 million francs had been passed on to around 100 organizations, 15 million of which to cancer research and prevention organizations. The Philanthropia Foundation has been headed by Denis Pittet since 2016.

Subsidiaries and international presence

Switzerland

The Lombard Odier Group's head office has been in Geneva since the bank was founded in 1796. However, the location of the headquarters has changed over the centuries. In 1827, Hentsch & Cie moved to rue de la Corraterie in the Maison Gallatin building, which was built in 1708. This is still the oldest headquarters of the Lombard Odier Group in Geneva. A few decades later, in 1858, Lombard, Odier & Cie also moved to rue de la Corraterie, at number 11. Between 1921 and 1924, the buildings of the banks Hentsch & Cie and Lombard, Odier & Cie on rue de la Corraterie rebuilt to add additional floors. In 1957, Lombard, Odier & Cie acquired the neighboring building at 9 rue de la Corraterie. Before this room could be used by the bank's employees, it was completely rebuilt according to the plans of the architect Antoine de Saussure. In 1985 all administrative services for Lombard, Odier & Cie were brought together on one property in Lancy . In 1994 Lombard, Odier & Cie bought the properties at numbers 18 and 22 on rue de la Corraterie, which were in front of their premises and which used to be part of a real estate company. In the same year, after the merger with the employees of Darier & Cie, Hentsch & Cie marketed the building alongside Lombard, Odier & Cie. That company then bought it and carried out development work to connect the buildings in 1997. Lombard Odier plans to build a new headquarters in Bellevue in the canton of Geneva for 2021–2022 . The building was designed by the architects Herzog & de Meuron . The building is said to have the capacity to accommodate 2,600 employees in order to bring together all of the bank's employees, who are currently spread across six different locations within Geneva. Part of the original building, the Maison Gallatin on Rue de la Corraterie, will be preserved, renovated and dedicated to organizing events.

The Lombard Odier Group also has several branches and representative offices throughout Switzerland. The bank has had a presence in Lausanne since 1882, in Vevey and Zurich since 1989 and in Freiburg since 2008.

Europe

The Lombard Odier Group has several European subsidiaries that have been combined into one branch, which was opened in Luxembourg in 2011 . The group of subsidiaries of Lombard Odier in Europe was therefore considered in legal and financial planning as branches of its Luxembourg bank.

In the UK , the Lombard Odier Group has had a London office since 1973, which is now known for leading asset management for the group. The London office has always been dedicated to institutional management for Lombard, Odier & Cie and therefore bore the company name Lombard, Odier International Portfolio Management Ltd (LOIPM). In particular, this company managed the portfolios of institutional investors in the US and the Middle East . The group, which was still under British jurisdiction, was also present in Gibraltar from 1987 . On that day, Lombard, Odier & Cie acquired Gibraltar Private Bank.

In France, Lombard Odier established itself in Paris since 2001 with the opening of the Lombard Odier Gestion building, which became LODH Gestion the following year, when Lombard, Odier & Cie merged with Darier, Hentsch & Cie. The aim of the branch was to expand an institutional customer base in France and to promote the distribution of investment funds under the Lombard Odier brand. In 2004, the French branch received an administrative mandate for the pension reserve fund (FRR), which together with ADI then founded the company GéA in France, which specializes in hedge funds. The partnership ended in October 2008 and Lombard Odier opened its own office specializing in hedge funds , complementing its specialized offices in bonds, asset allocation and socially responsible investment.

The Lombard Odier Group has also been present in Europe, particularly in Brussels since 2004, in Madrid and Frankfurt since 2007, in Moscow since 2008 and in Milan since 2016. The Lombard Odier Group also had an office in the Netherlands , which was transferred to the KBL Group in 2018.

America

The Lombard Odier Group has had a presence in North America since 1951 when Lombard, Odier & Cie opened its first international overseas store in Montreal, Canada. This branch, originally called Secfin Company Ltd. was founded, is now called Lombard Odier Securities (Canada) Inc. The group has been present in the USA since 1972 when Lombard, Odier & Cie founded a subsidiary called Lombard, Odier Inc., which is now Lombard Odier Asset Management (USA ) Corp. whose sole aim when it was founded was to pass on information from the American side to Geneva. The Lombard Odier Group has also been represented in Nassau (Bahamas) since 1973 and in Bermuda since 1976 . In South America, the group has been represented in Panama since 2013 and in Montevideo since 2017 .

Asia, Middle East and Africa

In Asia, Lombard Odier has been active in Hong Kong since 1987 , in Tokyo since 1992 and in Singapore since 2017 . Since 2014, the group has also signed a cooperation agreement with the Industrial Bank in China. After all, the group has been represented in Dubai since 2006 and in Tel Aviv and Johannesburg since 2017 .

Controversy

In December 2013, Lombard Odier took part in the US Department of Justice's voluntary open negotiation program to resolve tax breaches by American taxpayers within its customer base. On December 31, 2015, Lombard Odier Bank announced that it had reached an agreement with the American judicial system that consisted of a $ 99.8 million disbursement to resolve disputes related to non-compliance with tax regulations.

In December 2016, the Federal Ministry of State initiated a criminal investigation into the activities of the private bank Lombard, Odier & Cie on suspicion of money laundering in the social environment of Gulnora Karimova , the daughter of the former Uzbek president . It was alleged that the bank had not taken “all reasonable and necessary organizational measures”, as required by the Swiss Criminal Code. Still, the bank states that it disclosed the facts to the authorities.

Cultural references

In 1865, Jules Verne mentioned Bank Lombard, Odier & Cie. In his novel From Earth to the Moon . In the novel, the bank helped finance the scientific expedition. Jules Verne explained that Switzerland was just a symbol of funding: “The treaties were signed in the main cities of the Union; The headquarters were the Baltimore Bank at No. 9 Baltimore Street. Then we were signed into the various states of the two continents: […] in Berlin with Mendelssohn, in Geneva with Lombard, Odier & Cie, in Constantinople with the Ottoman bank , [...]. "

Individual evidence

  1. ↑ a b Entry in the bank master of Swiss Interbank Clearing
  2. ↑ letemps.ch Retrieved March 14, 2019
  3. ↑ lombardodier.com Retrieved March 14, 2019
  4. ↑ Banque Lombard Odier & Cie SA. In: ABPS. Retrieved March 13, 2019 (Fri-FR).
  5. ↑ a b Easymonitoring AG: Compagnie Lombard Odier SCmA. Retrieved March 13, 2019 .
  6. ↑ a b c d Jean de Senarclens: Lombard. Retrieved March 13, 2019 (French).
  7. ↑ Gerhard R Schäpper: Le banquier privé suisse et ses défis à venir . Association des banquiers privés suisses, Geneva 1997, ISBN 978-2-9700148-1-2 , p. 19 .
  8. ↑ a b c Daniela Vaj / DW: Odier. Retrieved March 13, 2019 (French).
  9. ↑ a b c d Jean de Senarclens: Darier. Retrieved March 13, 2019 (French).
  10. ↑ a b c Jean de Senarclens: Hentsch. Retrieved March 13, 2019 (French).
  11. ↑ a b c Gerhard R. Schäpper: Le banquier privé suisse et ses défis à venir . Association des banquiers privés suisses, Geneva 1997, ISBN 978-2-9700148-1-2 , p. 21 .
  12. ↑ a b c d Youssef Cassis: Les capitales du capital: histoire des places financières internationales, 1780–2005 . Slakine, Geneva 2006, ISBN 2-05-101999-1 , pp. 48 .
  13. ↑ a b c d e f Jean de Senarclens: Hentsch, Henri. Retrieved March 13, 2019 (French).
  14. ↑ a b c d e f Hans Bauer, Louis H. Mottet: Les Grandes heures des banquiers suisses: vers une histoire de la banque helvétique du XVe siècle à nos jours . Delachaux & Niestlé, Neuchâtel 1986, ISBN 978-2-603-00597-2 .
  15. ↑ a b c d e Dans la lignée Hentsch: Bénédict, fils de Léonard . October 17, 2001, ISSN  1423-3967 ( letemps.ch [accessed March 13, 2019]).
  16. ↑ Hans Bauer, Louis H. Mottet: Les Grandes heures des banquiers suisses: vers une histoire de la banque helvétique du XVe siècle à nos jours . Delachaux & Niestlé, Neuchâtel 1986, ISBN 978-2-603-00597-2 , p. 76 .
  17. ↑ Sven Raffestin: Une de dynasty banquiers: Les Lombard . L'Extension, 1997, p. 10 .
  18. ^ A b Jean-François Chapponière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, 1998, pp. 91 .
  19. ^ A b Jean de Senarclens: Bonna, Paul-Frédéric. Retrieved March 13, 2019 (French).
  20. ^ Youssef Cassis: Les capitales du capital: histoire des places financières internationales, 1780–2005. Slakine, Genève 2006, ISBN 2-05-101999-1 , pp. 54 .
  21. ^ A b c Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, 1998, pp. 94-98 .
  22. ^ A b Jean de Senarclens: Lombard, Alexandre. Retrieved March 13, 2019 (French).
  23. ^ Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, Geneva, S. 111 .
  24. ^ Les Hénokiens - Association internationale d'entreprises familiales au moins bicentenaires. Retrieved March 13, 2019 (Fri-FR).
  25. ^ A b c Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, Geneva 1998, pp. 105-106 .
  26. ↑ a b c Gerhard R. Schäpper, Association of Swiss Private Bankers: Le banquier privé suisse et ses défis à venir . Association des banquiers privés suisses, Geneva 1997, ISBN 978-2-9700148-1-2 .
  27. ^ Bernard van Marken: La banque de credit et de dépôt des Pays-Bas: aux origines de la Banque de Paris et des Pays-Bas, 1863–1872. Retrieved March 13, 2019 .
  28. ^ Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, GEnf 1998, pp. 109 .
  29. ^ A b Jean de Senarclens: Lombard, Alexis. Retrieved March 13, 2019 (French).
  30. ↑ Malik Mazbouri: L'émergence de la place financière suisse (1890–1913): itinéraire d'un grand banquier . Ed. Antipodes, Lausanne 2005, ISBN 978-2-940146-53-6 , pp. 231 .
  31. ^ A b Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, Geneva 1998, pp. 114-118 .
  32. ^ Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, Geneva 1998, pp. 120 .
  33. ^ Association of Swiss Private Bankers: Le banquier privé suisse et ses défis à venir . Association des banquiers privés suisses, Geneva 1997, ISBN 2-9700148-1-5 , p. 22 .
  34. ^ Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, Geneva 1998, pp. 124 .
  35. ^ A b c Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, Geneva 1998, pp. 128-129 .
  36. ^ Youssef Cassis: Les capitales du capital: histoire des places financières internationales, 1780–2005 . Slakine, Genève 2006, ISBN 2-05-101999-1 , pp. 162 .
  37. ↑ a b c d e f g Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, Geneva 1998, pp. 132-140 .
  38. ↑ High-Tech Fever . In: Time . April 11, 1983, ISSN  0040-781X ( [1] [accessed March 13, 2019]).
  39. ^ Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, Geneva 1998, pp. 143-144 .
  40. ↑ a b Sabrina Sigel, Hugo Bänziger, Joséphine Verine: Lombard, Odier, Darier, Hentsch . Lombard, Odier & Cie, London, p. 67 .
  41. ↑ a b c Sabrina Sigel; Hugo Bänziger; Joséphine Verine: Lombard, Odier, Darier, Hentsch . Lombard, Odier & Cie, London 2018, pp. 72 .
  42. ↑ Sabrina Sigel; Hugo Bänziger; Joséphine Verine: Lombard, Odier, Darier, Hentsch . Lombard, Odier & Cie, London 1998, pp. 137 .
  43. ↑ a b Sabrina Sigel; Hugo Bänziger; Joséphine Verine: Lombard, Odier, Darier, Hentsch . Lombard, Odier & Cie, London 2018, pp. 109 .
  44. ↑ Sabrina Sigel; Hugo Bänziger; Joséphine Verine: Lombard, Odier, Darier, Hentsch . Lombard, Odier & Cie, London 1998, pp. 92 .
  45. ↑ Sabrina Sigel; Hugo Bänziger; Joséphine Verine: Lombard, Odier, Darier, Hentsch . Lombard, Odier & Cie, London 2018, pp. 110 .
  46. ^ Youssef Cassis: Les capitales du capital: histoire des places financières internationales, 1780–2005. Slakine, Genève 2006, ISBN 2-05-101999-1 , pp. 88 .
  47. ^ Youssef Cassis: Les capitales du capital: histoire des places financières internationales, 1780–2005 . Slakine, Genève 2006, ISBN 2-05-101999-1 , pp. 89 .
  48. ^ A b Youssef Cassis: Les capitales du capital: histoire des places financières internationales, 1780–2005 . Slakine, Genève 2006, ISBN 2-05-101999-1 , pp. 162 .
  49. ↑ Malik Mazbouri: L'émergence de la place financière suisse (1890–1913): itinéraire d'un grand banquier . Ed. Antipodes, Lausanne 2005, ISBN 978-2-940146-53-6 , pp. 230 .
  50. ↑ Hans Bauer, Louis H. Mottet: Les Grandes heures des banquiers suisses: vers une histoire de la banque helvétique du XVe siècle à nos jours . Delachaux & Niestlé, Neuchâtel 1986, ISBN 2-603-00597-9 .
  51. ↑ a b c Merger of the banques privées suisses Darier Hentsch and Lombard Odier. Retrieved March 13, 2019 (French).
  52. ^ Lombard Odier Darier Hentsch & Cie fait son entrée chez les Hénokiens. Retrieved March 13, 2019 (French).
  53. ↑ a b c Pictet et Lombard Odier mettent fin à plus de deux siècles de tradition suisse. Retrieved March 13, 2019 (French).
  54. ↑ En Suisse, la banque en famille cède le pas. Retrieved March 13, 2019 (French).
  55. ↑ Après plus de 200 ans d'existence, deux banques suisses font leur révolution . February 6, 2013 ( [2] [accessed March 13, 2019]).
  56. ^ Thierry Lombard prend sa retraite à 66 ans . January 9, 2015, ISSN  1423-3967 ( [3] [accessed March 13, 2019]).
  57. ↑ Sébastien Ruche: Le fils de Thierry Lombard arrive à la direction de la banque Landolt . July 29, 2016, ISSN  1423-3967 ( [4] [accessed March 13, 2019]).
  58. ↑ a b Ricardo Payro: Deux nouveaux associés pour Lombard Odier. In: Finance Corner. January 16, 2017, accessed on March 13, 2019 (fr-fr).
  59. ^ L'associé Hugo Bänziger quince Lombard Odier sur fond de désaccord. Retrieved March 13, 2019 (French).
  60. ↑ a b c d Annual report 2017. (PDF) Retrieved on March 14, 2019 .
  61. ^ Sébastien Ruche, Mathilde Farine: Alexandre Zeller devra accélérer l'innovation chez Lombard Odier . February 14, 2019, ISSN  1423-3967 ( [5] [accessed March 13, 2019]).
  62. ^ Lombard Odier à l'heure de la révolution bancaire suisse. Retrieved March 13, 2019 (French).
  63. ^ A b Lombard Odier Investment Managers. Retrieved March 13, 2019 (UK English).
  64. ↑ Next Finance: Innovation - Lombard Odier Investment Managers étend son offre d'impact investing avec un fonds responsable actions internationales. Retrieved March 13, 2019 (French).
  65. ↑ Lombard Odier IM s'allie à Affirmative Investment Management. Retrieved March 13, 2019 (French).
  66. ^ A b Lombard Odier IM s'associe avec ETF Securities. Retrieved March 13, 2019 (French).
  67. ^ Lombard Odier mise sur les ETF - Actualités Asset Management. March 30, 2015, accessed March 13, 2019 (French).
  68. ↑ "Nous venons de coter nos trois premiers ETF obligataires smart beta à Londres." Retrieved March 13, 2019 (French).
  69. ↑ Lombard Odier IM utilize la block chain pour une opération Obligataire - Actualités Fintech. January 8, 2018, accessed March 13, 2019 (French).
  70. ↑ a b Lombard Odier est devenu supplier de services informatiques . February 16, 2014, ISSN  1423-3967 ( [6] [accessed March 13, 2019]).
  71. ↑ a b c Lombard Odier scinde son informatique - Actualités Asset Management. June 12, 2015, accessed March 13, 2019 (French).
  72. ↑ L'Internationale protestante d'Alexandre Lombard, dit Lombard-Dimanche. Retrieved March 14, 2019 .
  73. ^ Jean-François Chaponnière: Nos deux cent premières années, partie II: Deux siècles de banque . Lombard, Odier & Cie, Geneva 1998, pp. 123 .
  74. ↑ a b Genève, center philanthropique. Retrieved March 13, 2019 (French).
  75. ↑ a b c Ricardo Payro: Thierry Lombard prend une participation dans la banque Landolt. In: Finance Corner. December 16, 2015, accessed on March 13, 2019 (Fri-FR).
  76. ↑ Philanthropia aide les mécènes à investir. Retrieved March 13, 2019 (French).
  77. ↑ a b La Fondation Philanthropia fête ses 10 ans. September 27, 2018, accessed March 13, 2019 (French).
  78. ↑ Sabrina Sigel; Hugo Bänziger; Joséphine Verine: Lombard, Odier, Darier, Hentsch . Lombard, Odier & Cie, London, p. 24 .
  79. ↑ a b c d e f Pierre Keller: Nos deux cent premières années, partie III: La phase d'expansion . Lombard, Odier & Cie, Geneva 1998, pp. 193-194 .
  80. ^ Agefi SA: Le cabinet Herzog & De Meuron construira le nouveau siège de Lombard Odier. Retrieved March 13, 2019 (French).
  81. ↑ a b Lombard Odier prévoit la construction d'un nouveau siège à Genève - Actualités Banque & Assurance. April 25, 2017, accessed March 13, 2019 (French).
  82. ↑ a b c d e f g Sabrina Sigel; Hugo Bänziger; Joséphine Verine: Lombard, Odier, Darier, Hentsch . Lombard, Odier & Cie, London 2018, pp. 218-219 .
  83. ↑ a b De succursale à banque - Actualités Banque & Assurance. January 17, 2013, accessed March 13, 2019 (French).
  84. ↑ a b Gestion de fortune: le suisse Lombard Odier s'implante à Paris. Retrieved March 13, 2019 (French).
  85. ^ A b Lombard Odier renforce son équipe dédiée aux investisseurs institutionnels à Paris. Retrieved March 13, 2019 (French).
  86. ^ A b Lombard Odier table sur la gestion alternative pour varier sa clientèle - Actualités Asset Management. January 14, 2010, accessed March 13, 2019 (French).
  87. ^ ADI et Lombard Odier Darier Hentsch créent une société de multigestion alternative. Retrieved March 13, 2019 (French).
  88. ^ ADI et Lombard Odier Darier Hentsch créent une société de multigestion alternative. Retrieved March 13, 2019 (French).
  89. ↑ Lombard Odier croît fortement au premier semestre. Retrieved March 13, 2019 (French).
  90. ↑ Lombard Odier cible la banque privée de Chine - Actualités Banque & Assurance. March 12, 2014, accessed March 13, 2019 (French).
  91. ^ Lombard Odier a provisionné le coût des enquêtes fiscales américaines - Actualités Banque & Assurance. August 29, 2014, accessed March 13, 2019 (French).
  92. ^ Après Julius Baer, ​​Lombard Odier transige aux USA. Reuters, December 31, 2015, accessed March 13, 2019 .
  93. ↑ a b Lombard Odier dans le viseur de la justice . In: Tribune deGenève . February 23, 2017, ISSN  1010-2248 ( tdg.ch [accessed March 13, 2019]).
  94. ↑ a b Jules Verne: De la Terre à la Lune . J. Hetzel et Compagnie, Paris 1868, p. 68-75 ( Wikisource ).

Coordinates: 46 ° 12 '10.7 "  N , 6 ° 8' 37.2"  E ; CH1903:  500049  /  117661