February 28, 2014 / 4:15 PM / 4 years ago

Lombard Odier partner Caye departs for Capital Group

ZURICH, Feb 28 (Reuters) - Lombard Odier partner Arthur Caye
will leave at the end of April, after little more than two years
at the centuries-old Swiss private bank, to return to his former
employer.
    Caye plans to go back to Capital Group, a Geneva-based
investment firm for institutional as well as private wealthy
investors, the private bank said.
    "This decision is motivated by his wish to focus full time
on his initial passion for investing, specifically research and
portfolio management," Lombard Odier said in a statement,
confirming a report earlier on Friday by Swiss newspaper Le
Temps.
    The private bank said last month that it will take on former
Deutsche Bank risk chief Hugo Baenziger as a managing
partner, tasked with helping the family-owned Geneva-based
private bank expand outside Switzerland.
    Lombard Odier, formed in 2002 when two traditional Geneva
firms joined forces, is 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. 
    Scores of smaller rivals have also come forward and roughly
a dozen Swiss private banks including Credit Suisse,
which testified to a U.S. Senate panel this week, Julius Baer
 and Geneva rival Pictet & Cie are being formally
investigated by prosecutors. 
    


 (Reporting By Katharina Bart;editing by Sofina Mirza-Reid)

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