Lombard Odier has hired a head of rates from a UK rival, as the business continues to build up its fixed income division following high-profile hires over the last year.

Gregor MacIntosh, the head of rates at Standard Life Investments where he oversaw $47bn (€38bn) of assets and a team of six portfolio managers, has been appointed head of rates at Lombard Odier Investment Managers, the institutional asset management arm of Swiss private bank Lombard Odier, according to a statement from the company.