“We are witnessing an unprecedented shift in wealth creation and preservation across Asia, and Singapore is at the heart of this transformation,” stated Vincent Magnenat, Limited Partner and Asia Regional Head at Lombard Odier. “This is not just an expansion; it’s a commitment to serving the unique needs of ultra-high-net-worth families in the region.”
Swiss private bank Lombard Odier has taken a decisive step toward solidifying its presence in Asia with the launch of a dedicated family office advisory platform in Singapore. The initiative, announced earlier this week, is designed to cater to the rising demand for bespoke wealth management services among Asia’s ultra-affluent families. Singapore, often referred to as the “Switzerland of Asia” due to its robust regulatory environment and growing appeal as a global financial hub, was a natural choice for Lombard Odier’s expansion.
The firm’s new platform will focus on providing integrated solutions for intergenerational wealth transfer, philanthropy, tax optimization, and alternative investment strategies. This move reflects Lombard Odier’s broader strategy of aligning with regional trends, particularly the surge in family office formations in Singapore. According to data from Singapore’s Economic Development Board, the number of family offices in the city-state has more than doubled since 2020, driven by favorable tax policies and geopolitical stability.
Founded in 1796, Lombard Odier is among the oldest private banks in the world, with a reputation for blending tradition with innovation. The Singapore initiative is a testament to the firm’s ability to anticipate and adapt to global shifts in wealth dynamics. For Asia’s high-net-worth families, who often navigate complex cross-border financial landscapes, the promise of a tailored, client-centric approach is particularly appealing.
Magnenat noted that the platform would not only assist families in structuring their wealth but also aim to align their financial strategies with their values. “We increasingly see a desire among clients to focus on sustainable investments and future-oriented wealth preservation,” he said, underscoring the firm’s emphasis on environmental, social, and governance (ESG) principles.
The impact of Lombard Odier’s expansion extends beyond its client base. Industry experts suggest that the move could elevate the competitive landscape for wealth management services in Singapore, prompting other global players to enhance their offerings. Additionally, it reinforces Singapore’s position as a premier destination for wealth management and family office services, which has become a crucial pillar of the city-state’s economy.
As the global wealth ecosystem continues to evolve, Lombard Odier’s Singapore initiative is a strategic acknowledgment of Asia’s rising influence. With its deep-rooted expertise and forward-looking approach, the firm is well-positioned to serve the region’s growing cohort of sophisticated investors.
(Editors: admin)