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Stifel’s Swiss Equities Team Is Said to Be Joining Oddo BHF

(Bloomberg) — Members of Stifel Financial Corp.’s team focused on Swiss equities have left the firm and are set to join Oddo BHF SCA, according to people familiar with the matter. 

About half a dozen staff based in Switzerland gave their notice on Thursday, including members of the sales team, traders and analysts, the people said, asking not to be identified as the information isn’t public.

The former team members are set to start at Oddo after their notice periods, which typically last between two and six months on average in Switzerland, one of the people said. The move comes as Stifel has reduced its research headcount in the country over the past few years, the people said.

Representatives for Stifel and Oddo declined to comment. 

Oddo is expanding its operations in Switzerland, as lenders position themselves to lure new clients following the demise of Credit Suisse. The firm’s recent hires include Christian Zahn, formerly of McKinsey & Co., who was named Oddo’s head of investment banking in June. 

The Paris-headquartered firm has also agreed tie-ups with equity brokerages and research activities of other European lenders such as Commerzbank AG in Germany and Natixis SA. The group employed around 3,000 people and had €140 billion ($148 billion) in assets under management as of the end of 2023.

Separately, Mourtaza Asad-Syed, formerly the chief investment officer at Oddo in Geneva, recently left the company after about five years in the position, a spokesperson confirmed in response to a query from Bloomberg News.

–With assistance from Jan-Henrik Förster.

(Updates with Oddo executive departure in last paragraph.)

©2024 Bloomberg L.P.

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