Swiss private bank Lombard Odier has posted a consolidated net profit of CHF120m for the year ended 31 December 2014.
Total client assets stood at CHF215bn at the end of 2014. Of this, total client assets in the private clients business amounted to CHF 116bn.
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Asset management clients invested CHF 49bn with Lombard Odier Investment Managers and technology & banking services clients entrusted the group with an additional CHF50bn, the company said in a statement.
The group posted a consolidated operating income of CHF1.03bn for 2014. Operating cost-income ratio stood at 80%, mainly driven by continued strategic investments.
Senior managing partner Patrick Odier said, "Our earnings in the second half of 2014 were on track as the bank positions its businesses for the future. Our private clients business will continue to expand its reach in Switzerland, Europe and the emerging economies; our asset management unit will continue to focus on distinctive and innovative investment solutions and our technology & banking services business will further develop its platform for the benefit of our own and third-party clients."
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