Swiss private bank Lombard Odier is building on its Asian operations with the appointment of five senior relationship managers to its Hong Kong office.

Philippe Adler, who brings 18 years of private banking experience from UBS, has been named managing director. Stepping in as executive directors are Dominik Fuerst, from UBS, Tanya Ward, also from UBS, Doreen Tan, from Bankers Trust, and Barbara Wang, from W Capital Group.

The hires come as high net worth individuals are increasingly becoming interested in niche private bankers that provide independent wealth preservation advice and moving away from high-risk investments, the company said in a statement.

"The wealth management philosophy of many high net worth individuals has shifted over the past two years, from a high-risk high-return mindset to a steady growth approach," Philip Jehle, managing director for Asia.

"This puts us in a prime position in attracting these clients as our thoughts on wealth preservation are now very much aligned. Hence, we are expanding our operations here in Asia to better serve the needs of our growing number of clients," Jehle added.

In a recent study by Datamonitor on high net worth clients in Hong Kong, it was shown that 50 per cent of HNWIs in the country are likely to seek financial planning advice over the next two years, with a particular focus on advisory capability and service quality.

Lombard Odier has been serving HNWIs and families in Hong Kong since 1987, Tokyo since 1992, and Singapore since 2008.