As the potential of the Turkish wealth management market grows, the Swiss private bank is strengthening its Turkish business with the appointment of a senior executive from UBS.

Swiss private bank Lombard Odier has appointed Tuncay Yilmaz (pictured) as market head of Turkey, effective August 3, to strengthen the firm’s capabilities in the region.

Yilmaz brings nearly 30 years of experience in private banking and financial services, notably with Turkish clients. He has joined from UBS where he has spent the past 12 years, most recently as desk head for ultra-high net worth individuals and HNW individuals from Turkey in Zurich. Prior to UBS, he served in management roles at BNP Paribas Suisse and UBS in Geneva, after earlier positions at Banque du Bosphore in Paris, and Finansbank in Turkey, the firm said in an internal memo.

Yilmaz has built expertise in the Turkish market, developed client relationships and managed teams serving Turkish entrepreneurs and families, the bank.

The appointment represents a milestone in Lombard Odier’s strategy to bolster its coverage and capabilities in Turkey. Yilmaz’s experience, network and market knowledge will be important in supporting its growth ambitions in the region, the bank continued.

Based in Geneva, Yilmaz will report to Ali Janoudi, head of the New Markets division, and will be a member of the New Markets Management Forum. Janoudi joined Lombard Odier in 2024 to oversee growth strategies across the Middle East, Eastern Europe, Turkey and Africa, based in Geneva, according to his LinkedIn profile..

Janoudi thanked Cem Kosenem for leading the Turkish market on an interim basis over the past two years and wished him success in his senior banker role reporting to Yilmaz.

The potential for the Turkish market is considerable, characterised by rapid nominal asset growth and young population. There are a number of rich families in the country, such as the Koç and Sabanci dynasties, involved in areas such as property, energy, retail and financial services. See more here.