Swiss private banking sector faces revolution over Pictet and Lombard Odier moves
AFP : Geneva, Mon Feb 11 2013, 12:08 hrs
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After the reform is in place, the managing partners will only risk the funds they have invested in the bank, rather than having to put all of their personal assets on the line.
"This legal structure allows us to maintain the benefits of a private partnership, such as our independence, strict sense of responsibilities and our long-term management outlook while ensuring that our interests remain aligned with those of our clients," Patrick Odier, senior partner of Lombard Odier, said in a statement.
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