Lombard Odier Darier Hentsch believes the best strategy to grow its business is organically and not through acquisitions, according to Patri...

Lombard Odier Darier Hentsch believes the best strategy to grow its business is organically and not through acquisitions, according to Patrick Odier, managing partner of the Geneva-based bank.

In an interview with the Financial Times, Mr Odier said: “We want to grow organically…We put huge emphasis on servicing existing clients, on ensuring long-term profitable business, and believe growth should come from there.”

Mr Odier, who is well aware of the challenges of merging two different business cultures after Lombard Odier merged with Darier Hentsch in 2002, told the FT that he is not interested in expansion through acquisition.

“The cultural aspects of managing our business are very important and external acquisitions bring big difficulties in managing those aspects,” said Mr Odier.

Asked whether LODH would itself consider selling the firm to a rival or through a public listing, Mr Odier said this is not on the agenda. The bank’s independence is central to its business ethos, Mr Odier added.

“It allows us to make the choice of who we want to serve with what product without having the pressure of anyone telling us it is the right time,” Mr Odier told the FT.

Private banking continues to remain the major revenue generator for the bank, with a 60/40 per cent split between private and non-private client business, said the Swiss banker.

Mr Odier said the bank plans to expand in Europe and added that LODH had set very stringent objectives over the next three to four years with respect to developing its onshore business.