*"Asia’s wealth trajectory is both profound and undeniable. Lombard Odier is committed to being at the epicenter of this growth," said Vincent Magnenat, Limited Partner and CEO for Asia at Lombard Odier.*
In a decisive move underscoring the region’s growing importance in global wealth management, Swiss private bank Lombard Odier has announced the launch of a new regional hub in Singapore. This expansion is part of the bank's broader strategy to fortify its presence in Asia, a market that has seen a meteoric rise in ultra-high-net-worth individuals (UHNWIs) and family offices over the past decade. With its 227-year legacy rooted in bespoke wealth solutions, Lombard Odier’s investment in a Singapore hub signals its long-term commitment to servicing Asia’s burgeoning affluent population.
Singapore, already a magnet for wealth due to its political stability, robust regulatory framework, and strategic positioning as a gateway to Southeast Asia, has seen an unprecedented inflow of capital in recent years. According to Lombard Odier’s leadership, the city-state was a natural choice for anchoring their Asian operations. The newly established hub will serve as a central point for delivering tailored services, including wealth planning, sustainable investment advisory, and next-generation family office solutions.
Lombard Odier’s move comes at a time when Asian economies are showing resilience amidst global market volatility. The growth of UHNWIs in the region, particularly in China, India, and Southeast Asia, has outpaced that of Europe and North America, creating an unparalleled opportunity for wealth managers. Singapore, in particular, has solidified its position as an offshore wealth center, with assets under management in the city-state reaching a staggering SGD 5.4 trillion as of 2022. By establishing a robust operational presence in this financial hub, Lombard Odier aims to capture the upward trajectory of wealth in the region.
*"Our clients are increasingly global, and their needs are evolving rapidly. Singapore offers us a unique platform to deliver solutions that are not only sophisticated but also sustainable and intergenerational,"* Magnenat added. He emphasized the importance of aligning the firm's offerings with the values of Asia’s next-generation wealth holders, who are driving demand for impact investing and ESG-aligned portfolios.
The opening of this hub is expected to create a ripple effect, both within the firm and across the industry. Lombard Odier plans to expand its team of seasoned advisors in Singapore, tapping into the city’s deep talent pool of financial professionals. Furthermore, the move is likely to intensify competition among global private banks vying for a share of Asia’s wealth, spurring innovation in service offerings and investment solutions.
As Lombard Odier doubles down on its Asian ambitions, the firm’s dedication to heritage and innovation remains its defining hallmark. This new chapter in Singapore not only affirms its commitment to the region but also sets a benchmark for the industry in navigating the future of global wealth management.
(Editors: admin)