Lombard Odier & Cie was founded over 200 years ago in 1798 when Geneva was (temporarily) part of Napoleon’s empire. The bank’s reputation for being the most innovative of Geneva’s world-renowned group of private banks was immortalised by Jules Verne in his 1872 precursor science fiction story as the bank that financed the expedition to the moon.
The bank has lived up to this tradition of innovation with the launching six years ago of its first sector fund, the Immunology Fund. The Fund started in with a small asset base, investing in listed and unlisted biotechnology and pharmaceutical stocks. Following its strong performance, the Fund has become a major investor in the global biotechnology industry. Last year, for example, the Fund was the largest investor in the US for venture capital-backed biotech companies.
Geneva – world capital of private banking
Geneva is the birthplace and the capital of the world’s private banking industry. The dynamism and influence of Geneva as a financial centre is reflected in the density and diversity of the financial institutions present in the city which offers an exceptionally developed financial infrastructure to support Geneva-based corporations in their global activities. Building on its centuries' old banking expertise, Geneva offers all the services that private, corporate and institutional clients may need covering international law, accountancy, auditing, consultancy, insurance, reinsurance, inspection and arbitration. Geneva was the birthplace of private banking and is the heart of the Swiss asset management sector.
Seventy-five banks (including 49 foreign-owned institutions) are headquartered in Geneva while a further 45 international banks have branches here. Industry specialists estimate that approximately 55% of the 3,000 billion CHF in assets managed in Switzerland are directly or indirectly controlled from Geneva. Another criterion is the volume of Geneva-based fiduciary transactions and assets under management. According to a recent study, foreign and Swiss banks based in Geneva account for 30% of the overall volume of fiduciary transactions in Switzerland. Private and institutional assets managed by banks operating in Geneva can be estimated at CHF 1,200 billion. Since Switzerland manages some 35% of global transnational assets, it can be estimated that about 14% of these are managed in Geneva, thus making Geneva the world capital of asset management.
Geneva’s strategic goals
Lombard Odier’s orientation to the successful management of specialised industry funds like the Immunology Fund reflects the Geneva region’s own key strategic goals of building on traditional strengths such as financial expertise and a history of leadership in the sciences while developing strongly in hi-tech and Life Sciences’ domains. The potential for networking and practising a culture of proximity is particular strong here with so many leading companies and organisations involved in fundamental and applied research. One of the main attractions of the Geneva region and Switzerland for inward investment is precisely this critical mass of interests.
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Global bank’s major success in biotech world: Link
Geneva’s Private Bankers: Link
Geneva - Business-friendly environment for optimum financial growth: Link
Geneva financial centre: Link
