Lombard Odier is set to merge with Darier Hentsch, a rival private banking partnership, according to speculation in Swiss financial circles.

Around 240 jobs are likely to be cut if the two complete merger talks, according to Complinet, which provides business information to niche markets. Geneva-based Lombard Odier, whose Sfr100bn (€68.3bn) of assets makes it one of the largest banking partnerships in Switzerland, employs around 1,500 people.