Swiss private bank Lombard Odier Darier Hentsch has begun marketing its first hedge fund to institutional investors in an attempt to raise $1bn (€471m) despite the turmoil in global markets.

Hubert Keller, managing partner at Lombard Odier and the former global head of equity capital markets at Deutsche Bank, has been made chief executive of the fund, while Aziz Nahas, previously global head of equities at UBS’s now defunct hedge fund Dillon Read Capital Management is its chief investment officer.