A high-profile Asian appointment has been made by a prominent European private banking group.

Swiss private bank Lombard Odier has appointed David Loo as head of private clients for North Asia.

Based in Hong Kong, Loo will report directly to Vincent Magnenat, head of private banking in Asia-Pacific at the firm. He assumed his role yesterday.

In his new role, Loo will oversee the development of Lombard Odier’s business in North Asia markets.  The role is a newly created one and it consolidates the North Asia markets, a spokesperson told this publication. Previously, the market heads reported directly to Magnenat.

A veteran banker with more than 20 years of experience in the Hong Kong financial sector, Loo joins Lombard Odier from Citi Private Bank, where he spent over a decade in various roles, including as team head for Hong Kong and head of investment counselling for the Philippines and Greater China.

Prior to joining Citi Private Bank, Loo worked at Coutts, UBS Private Bank and Bank of America Trust Co.

Lombard Odier’s activities in the Asia-Pacific region are primarily focused on discretionary portfolio management, catering to clients looking to grow their assets over the long term.

“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,” said Magnenat.

The firm has offices in Hong Kong, Tokyo and Singapore and has more than doubled its presence in the region over the last three years.

The bank has been present in Asia for more than 25 years. In total, across all regions, Lombard Odier had client assets of $216 billion at the end of last year, of which assets under management were $162 billion.