The group reported a total balance sheet of SFr17.4 billion that remained “highly liquid” and “conservatively invested”, the bank said. It reported solid capitalisation, with a CET1 ratio of 29.8 per cent and a liquidity coverage ratio of 204 per cent for the year, and no external debt. The group’s Fitch credit rating remained at AA as of July 2019.

“Our solid results in 2019 reflect both the impact of strong net new money flows across our businesses, the effects of positive markets as well as clients benefitting from strategic asset allocation,” said Patrick Odier, senior managing partner at the manager-owned group which operates across 24 jurisdictions.

The investment manager has staked a strong presence in the sustainable investment space, with Patrick Odier writing last year for this news service about the need for a global shift in thinking.

“Sustainability is the core element of our investment convictions and we continue to incorporate it into our investment processes and strategies,” Odier said in yesterday’s results.

Going forward he added: “2020 will undoubtedly be an interesting year for financial markets. We remain conscious of the need to manage potential risks, and will remain prudent and agile in our management of clients’ assets.”

In typical orderly Swiss succession planning, Odier has said that he will step down in 2023, as reported last month. The investment group, part of Swiss private banking group Lombard Odier, has named Nathalia Barazal to succeed Hubert Keller in 2023 as its chief executive. Keller in turn will step into Odier's role as senior managing partner.