Swiss headquartered private bank Lombard Odier has announced a strategic alliance with Malaysian headquartered Hong Leong Bank (HLB).
The collaboration will see HLB launch enhanced private bank services in Singapore and the wider region, integrated with Lombard Odier’s chief investment office, according to a joint statement by the firms.
Clients will be offered bespoke advisory services such as discretionary portfolio management and “red carpet advisory”.
Kevin Lam, group managing director and CEO of HLB said: “Singapore, a pivotal wealth hub in a continent experiencing unprecedented growth in affluence, presents a unique opportunity.”
“Our strategic alliance with Lombard Odier, an institution that shares our profound long-term perspective, allows us to elevate our private bank offering here.”
“Together, we are charting a course for enduring wealth, providing our discerning clients in Singapore and the region with access to world-class expertise grounded in a shared commitment to responsibility and innovation, ensuring their legacies flourish for generations to come.”
The alliance is part of Lombard Odier’s strategy to partner with local financial institutions in various onshore markets. The bank has existing strategic alliances in Australia, Japan, Taiwan, Thailand, and the Philippines.
HLB has operations in Singapore, Hong Kong, Vietnam, and Cambodia.
Hubert Keller, senior managing partner at Lombard Odier said: “We are increasingly seeing significant growth opportunities in the Asia domestic markets: a clear upward trajectory in the demand and appetite for tailored wealth management, and a need for banks to meet client demands in accessing global investment opportunities onshore.”
“Our strategy is to collaborate with leading domestic financial institutions to jointly enhance their capabilities in serving clients. As a high-end international investment house with over two centuries of experience and a bespoke approach, we are pleased to form this strategic alliance with HLB, complementing their client offering.”
Jeffrey Yap, managing director and head of regional wealth management, HLB added: “This collaboration marks a pivotal moment in our pursuit of excellence in private banking particularly in sophisticated and significant markets such as Malaysia and Singapore.”
“By integrating Lombard Odier’s global insights with our regional expertise, we are crafting bespoke wealth solutions that are not only designed for today’s complexities but are also thoughtfully constructed to secure the financial well-being of generations to come.”
