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Lombard Odier hires Indosuez veteran

Sen Sui, who was Indosuez Wealth’s Asia head of wealth management, has joined Lombard Odier as Singapore-based managing director.
Sen Sui, Lombard Odier

Sui assumed his new role on 3 September, according to a statement from the firm. He is responsible for managing key client relationships and reports to Vincent Magnenat, limited partner and CEO for Asia-Pacific.

Sui does not replace anyone at Lombard Odier, according to a Hong Kong-based spokeswoman for the firm, adding that he has been hired as one of the managing directors for the firm’s private banking business in Asia. The spokeswoman did not say how many Asia-based managing directors the firm has.

Before Indosuez, Sui held various roles at Credit Agricole Indosuez Wealth Management in Singapore, most recently as Hong Kong-based head of wealth management for Asia, a position he assumed at the beginning of 2017. Before that role, he was the firm’s CEO for Singapore.

Sui first joined Indosuez Wealth in 2005 as head of markets and investment solutions for Asia, according to his Linkedin profile.

FSA sought more information from Indosuez Wealth about Sui’s replacement, but the firm did not respond in time for publication.

Sui’s appointment comes during Lombard Odier’s regional expansion. In Asia, its main operations are in Singapore, Hong Kong and Tokyo, but it has recently made strategic partnerships in other markets.

In April, the firm formed a partnership with Jakarta-based Bank Mandiri with the aim of developing the bank’s private banking arm. In 2016, the firm partnered with Union Bank in the Philippines to co-develop mutual fund products for private banking clients.

It also has a partnership with Bangkok-based Kasikornbank in Thailand, established in 2014, in which it manages global investment funds on behalf of Kasikornbank’s private clients.

Most recently, the firm made a strategic partnership last month with Mizuho Securities in Singapore, in which Mizuho will have access to Lombard Odier’s wealth management platform.

Globally, the firm managed CHF 274bn ($281bn) in assets at the end of June, according to the statement. In Asia, at least 65% of the assets managed by the firm are under discretionary mandates, the spokeswoman said, but she would not disclose additional numbers.

Part of the Bonhill Group.