The acquisition of ABN Amro’s private banking units in Singapore and Hong Kong by Liechtenstein’s LGT seems to have gone through without much pain. For some senior ABN Amro bankers though it has meant no gain.
Lombard Odier, the Switzerland-headquartered private bank and investments house, has announced that its Asia head, Vincent Duhamel, is stepping down as chief executive in the region, taking up the post of Asia chairman. He had been the bank’s Asia head for six years.
Scandal-hit Falcon Private Bank, the Abu Dhabi-owned firm that was kicked out of Singapore last year amid a scandal over illicit money transactions, has announced that two of its directors are leaving.
Liechtenstein-headquartered LGT, which recently bought the Asia private banking business of ABN AMRO, has made senior management changes to its private banking team in the region, this news service can exclusively report.