Lombard Odier Darier Hentsch is to sell its equity brokerage and corporate finance activities to the Vontobel Group effective from 1 Novembe...

Lombard Odier Darier Hentsch is to sell its equity brokerage and corporate finance activities to the Vontobel Group effective from 1 November 2006.

"This transaction is in line with the Group's strategy and will allow Lombard Odier Darier Hentsch to focus on the continued expansion of its international operations in the areas of private wealth management and institutional asset management," said Bernard Droux, managing partner.

Having strengthened its presence in Paris, Brussels, Amsterdam and Istanbul, the group is currently focusing on the opening of its new offices in Dubai, Barcelona and Singapore.

Herbert Scheidt, chief executive of the Vontobel Group, said: "We look forward to welcoming within our bank those employees of Lombard Odier Darier Hentsch who are concerned by this decision. Through this acquisition, Vontobel will considerably reinforce its position in the sectors of equity brokerage and corporate finance and become one of the leading players in the market."

In total 35 employees from equity brokerage and 14 from corporate finance will join the Vontobel Group.

Following this transaction in which he played a major role, Barthélemy Helg, managing partner and head of LODH's Investment Banking division, has decided to leave the group by the end of 2006 in order to pursue other interests.