A private banker who describes his business as a flower deserves respect. But Patrick Odier, managing partner at Lombard Odier Darier Hentsch, may need more than respect to remain competitive in a market where scale is increasingly seen as the prerequisite for success.

Rival Swiss bank Julius Baer upped the ante at the beginning of the month with its acquisition of three small private banks and fund manager GAM from UBS. The deal almost doubled its assets under management to SFr270bn (£118bn, €174bn) and put it well ahead of Lombard Odier and other independents like Pictet in the size stakes.