Swiss private bank Lombard Odier to open Milan office

October 20, 2016 10:47 AM EDT

The logo of private bank Lombard Odier (LODH) is pictured on the bank headquarters in Geneva May 9, 2012. REUTERS/Denis Balibouse

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ZURICH (Reuters) - Swiss-based wealth manager Lombard Odier Group will open an office in Milan for private banking clients, it said on Thursday, adding Italy to its foreign network.

The office will operate as a branch of Luxembourg-registered Lombard Odier (Europe) SA, it said in a statement.

The existing Lombard Odier private banking network in Europe comprises Paris, Brussels, London, Madrid, Amsterdam and Luxembourg. The asset-management arm of the group opened a Milan office in 2011.

(Reporting by Michael Shields; Editing by David Goodman)

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