Geneva’s bankers, who forged the biggest offshore hub for the Middle East super-rich after Saudi Arabia’s King Fahd built a summer palace in the city 35 years ago, are using the Arab Spring to counter client withdrawals.
Lombard Odier & Cie. plans to double assets under management for Middle East clients to $15.7 billion over five years, said Arnaud Leclercq, head of Middle East and new markets at Geneva’s oldest private bank.
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