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Lombard Odier client assets slip despite 'robust' inflows

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Lombard Odier client assets slip despite 'robust' inflows
FILE PHOTO: The logo of private bank Lombard Odier (LODH) is pictured on the bank headquarters in Geneva May 9, 2012. REUTERS/Denis Balibouse   -   Copyright  Denis Balibouse(Reuters)
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ZURICH (Reuters) – Total client assets at Swiss wealth and asset manager Lombard Odier fell to 259 billion Swiss francs (£195 billion) at the end of last year from 274 billion Swiss francs at the end of 2017, it said on Monday.

“Net new money flows were robust, which partially counteracted a negative market impact that reflected the sharp falls across most asset classes seen in the final months of the year,” it said in a statement without elaborating. It said 2019 began “with ongoing market uncertainty”.

(Reporting by Michael Shields; Editing by John Miller)

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