Jacques Ducrest
Head of Lombard Odier’s Vevey office

Lombard Odier has weathered dozens of financial crises. What’s the secret of such stability?

For 220 years, Lombard Odier’s vocation has been to protect the assets entrusted to us. We have only one business: wealth management. I would say that this stability is due firstly to the fact that we only manage assets, which considerably limits risk-taking. Secondly, stability is one of the consequences of our independence. Our company is owned by our partners, who have a long-term vision, detached from the pressure of shareholders or the imperatives of short-term results. Thirdly, the quality of our equity capital makes Lombard Odier one of the best capitalized banks in the world. Finally, we have always been able to reinvent ourselves. Today, more than ever in an environment that has changed dramatically, we need to challenge ourselves and innovate.

What role can a bank like Lombard Odier play in local development?

Even though our company is expanding internationally, we have always sought to maintain close ties with local customers. We have been present on the Riviera since 1989. We have been the only private bank in this area for 25 years. Our aim is to maintain and develop our presence by creating new jobs. Our 7-strong team has recently been boosted by the arrival of two new managers. Today, our challenge is to intensify our position as an economic player on the Riviera and to extend our reach by continuing to serve the interests of both local and international clients.

On a more personal note, what is your philosophy on finance?

The world of finance has undergone unprecedented upheaval since the financial crisis of 2008. Against this backdrop, I remain convinced that we need to reinvent ourselves and offer an irreproachable service. Our business requires daily involvement and follow-up. Quality of relationship, trust and professionalism are essential. I have to say that at Lombard Odier, we enjoy a great deal of independence. We have the privilege of accompanying families over several generations. There’s something very motivating about this highly personalized approach to wealth management!

What is your relationship with time? Is it a friend or an enemy? Do you chase after it, or do you let it get away from you?

Personally, I’m a great lover of watches. I’m fascinated by watchmaking, which cultivates a number of parallels with finance,notably in the fact of having a long-term vision, as the history of the Meylan family perfectly demonstrates. In my opinion, time is an ally that needs to be nurtured and managed on a daily basis. But you have to accept that you can’t control everything, and keep a certain humility about this parameter.