*"Asia represents a dynamic frontier for wealth creation, and we are committed to ensuring that our clients have access to bespoke solutions tailored to the complexities of multi-jurisdictional wealth,"* said Stuart Parkinson, Group CEO of Lombard International Assurance, as the firm announced the opening of its new office in Hong Kong earlier this week.
The move marks a significant milestone for the Luxembourg-headquartered wealth structuring giant, which specializes in unit-linked life insurance solutions for high-net-worth individuals (HNWIs), ultra-high-net-worth individuals (UHNWIs), and their families. With a growing number of affluent individuals in Asia seeking sophisticated cross-border wealth management strategies, Lombard International’s expansion underscores its commitment to addressing the intricate needs of this burgeoning market.
The Hong Kong office will serve as a regional hub, providing tailored wealth preservation, estate planning, and succession solutions to clients across Greater China and Southeast Asia. Lombard International’s entry into Hong Kong is timely, as the city continues to solidify its position as one of the world’s leading financial centers, particularly for offshore wealth management. According to the latest Capgemini World Wealth Report, Asia Pacific accounted for 41% of the global high-net-worth population in 2022, with China and Hong Kong playing pivotal roles in driving this growth.
By establishing a physical presence in Hong Kong, Lombard International is positioning itself to better serve its regional clientele while fostering closer relationships with local financial intermediaries. The firm also aims to provide a bridge for Asian families navigating complex cross-border tax and regulatory landscapes, particularly in light of tightening global compliance standards such as the Common Reporting Standard (CRS) and evolving taxation frameworks.
*"The sophistication of today’s wealth management needs demands a forward-thinking approach,"* said Tammy Lu Tsui, CEO of Lombard International Asia. *"Our Hong Kong office allows us to bring a combination of global expertise and local insight directly to our clients, offering them certainty and security in an increasingly uncertain world."*
Lombard International’s decision to expand in Asia follows a series of strategic initiatives in recent years aimed at reinforcing its global footprint. The firm has been actively investing in technology-driven solutions and expanding its network of partnerships with private banks, family offices, and independent wealth advisors. Its focus on personalized service and deep expertise in wealth structuring has earned it a reputation as a trusted partner for affluent families managing intergenerational wealth and legacy planning.
The Hong Kong launch is expected to have far-reaching implications for the region’s wealth management ecosystem. By bringing its expertise to the doorstep of Asian clients, Lombard International is not only enhancing its service capabilities but also contributing to the overall maturation of the industry. The move may also prompt other global players to deepen their presence in Asia, further elevating the region’s status as a critical hub for global wealth management.
As the wealth landscape continues to evolve, Lombard International’s expansion reflects a broader trend among global financial institutions seeking to capitalize on Asia’s economic dynamism and rapidly growing affluent demographic. With this strategic foothold in Hong Kong, the company is poised to play an integral role in shaping the future of wealth management in the region.
(Editors: admin)