Swiss banker Lombard Odier has hired David Loo from Citi Private Bank as head of private clients for North Asia, a new role the firm has created.

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The newly created role will target Asian wealthy clients besides pushing the firm’s regional development.

Loo will be based in Hong Kong and will report to Lombard Odier head of private banking Asia Pacific Vincent Magnenat.

In his new role, Loo, a veteran banker with over 20 years of experience in the financial industry in Hong Kong, will oversee the development of the bank’s business in North Asia markets, particularly Greater China and the Philippines.

Previously in his career, Loo, who spent over a decade in various roles in Citi Private Bank, has worked at Coutts, UBS Private Bank and Bank of America Trust.

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Magnenat said: "David’s tenure of experience as a senior banker and his solid foundation in investment advisory is a significant advantage to our team and his appointment further underpins our ongoing commitment to the region as we continue to grow our private client business in dynamic Asian markets."

Lombard Odier has also been expanding into Southeast Asian markets through alliances and has entered into a partnership with Thailand’s Kasikornbank.