*"Asia's wealth is growing at an unprecedented pace, and our clients demand a partner who understands the region's unique dynamics," said Vincent Magnenat, Limited Partner and CEO Asia Pacific at Lombard Odier, as he announced the firm's latest strategic development.*
Lombard Odier, the 227-year-old Swiss private bank renowned for its bespoke wealth management solutions, has unveiled an expansion of its operations in Singapore. The move includes the establishment of a dedicated family office hub, aimed at serving the growing number of ultra-high-net-worth families seeking sophisticated solutions for wealth structuring, intergenerational planning, and sustainable investment strategies in the Asia-Pacific region. This initiative underscores the firm’s commitment to deepening its presence in one of the world’s most dynamic wealth markets.
The decision to expand in Singapore comes against the backdrop of a global shift in wealth creation. Asia-Pacific now boasts the highest concentration of billionaires globally, with Singapore solidifying its reputation as a premier jurisdiction for family office services due to its robust legal framework, tax incentives, and political stability. Lombard Odier’s new family office hub will not only offer tailored advisory services but also provide clients with access to its proprietary sustainability-focused investment methodologies—a hallmark of the Swiss bank’s approach.
This is not Lombard Odier’s first foray into Singapore, but it marks a significant deepening of its roots in the city-state. The firm has operated in Asia for over 30 years, with Singapore serving as one of its key strategic hubs alongside Hong Kong and Tokyo. However, the launch of a standalone family office division signals a recognition of how the region’s wealth landscape is evolving. Increasingly, affluent families are seeking not only wealth preservation but also a legacy strategy that aligns with their values, particularly around sustainability and philanthropy.
*"We are witnessing a generational shift in how wealth is managed. Younger family members are prioritizing impact investing, while tax efficiency and regulatory compliance remain paramount," remarked Magnenat. "Our new hub in Singapore is designed to address these diverse needs comprehensively."*
The firm's expansion also dovetails with Singapore’s own efforts to attract family offices. According to the Monetary Authority of Singapore (MAS), the number of family offices in the city-state has surged from 400 in 2020 to over 1,100 in 2023, supported by initiatives such as the Variable Capital Company (VCC) framework and tax incentives like the 13O and 13U schemes. Lombard Odier’s new chapter in Singapore is thus well-timed, positioning the bank to cater to this burgeoning segment while reinforcing its reputation as a trusted advisor for complex cross-border wealth needs.
In an increasingly interconnected financial world, where capital flows transcend borders and client expectations become ever more nuanced, Lombard Odier’s expansion sets a benchmark for what high-touch service in wealth management should look like. By focusing on sustainability, innovation, and client-centricity, the firm is not only responding to the demands of today’s high-net-worth individuals but also shaping the future of wealth management in Asia.
As private wealth continues to grow and global financial centers like Singapore evolve, Lombard Odier’s expanded presence is likely to resonate deeply with families and institutions seeking a partner capable of navigating both opportunity and complexity.
(Editors: admin)