The Swiss private bank is bringing its independent asset manager model to the UK.

Lombard Odier has appointed Michael Le Garignon as head of its new independent asset managers (IAM) division in the UK, set to be launched next year.

Le Garignon joins the London team from Société Générale Securities Services, where he was head of business development, sales and relationship management for the UK and Ireland. With over 30 years’ industry experience, he has also held business development roles at JP Morgan and BNP Paribas Securities Services. 

Lombard Odier’s IAM division has served independent asset managers for over 25 years, offering them custody services, personalised support, an advisory platform and a wealth management tool. The division has €18 billion ($19 billion) under custody. 

It also provides multi-family offices and wealth managers with a portfolio management platform, which includes performance analysis, asset consolidation, reporting and order entries. 

“Technology is a hugely important factor in order for family offices and wealth managers to flourish. They need robust systems with the highest standards of quality to meet the demands of their clients and develop businesses to their full potential, benefitting from the full suite of services Lombard Odier has to offer,” said Duncan MacIntyre, chief executive, UK at Lombard Odier.

“This need will only get greater as regulatory pressure increases. We’re delighted to welcome Michael to Lombard Odier, whose wealth of expertise will be valuable for driving forward the IAM business in the UK, which is an important part of our growth strategy.”

Last month, Lombard Odier created six new roles in London as part of its investment programme to build its UK presence. The expanded team includes chief operating officer Karl Von Bezing, as well as three new private bankers, a wealth planner and a legal counsel.