Lombard Odier Portfolio Managers Say Firm Is Sabotaging Fund

A pair of Lombard Odier Group portfolio managers in New York are suing the Swiss firm and its top leaders for allegedly isolating their ESG private credit fund and starving it of investment.

Peter Pulkkinen and Rhys Marsh filed a lawsuit Friday in Manhattan state court, claiming they were targets of an internal campaign that included a “de facto sales boycott.” According to the men, this led to their LOIM Sustainable Private Credit Fund managing much less than the target of up to $800 million that Lombard Odier floated to recruit them in 2021.