Lombard Odier is apparently evaluating opportunities to expand its China business. The Swiss-based private bank has already been expanding in Asia for several years.
«Perhaps the time is ripe now,» said Patrick Odier, senior partner of the Geneva private bank Lombard Odier in an interview with the «Financial Times» (behind paywall). He meant it: to enter the Chinese market and enter into a partnership for this purpose. One could «join forces with a local bank», he continued. An official announcement, however, is not yet imminent, the article said.
Lombard Odier's partnership instrument has proven its worth in Asia. The bank has established offices in Hong Kong, Singapore, and Tokyo, but in recent years it has entered into various strategic alliances with local banks to establish a presence in Thailand, the Philippines, and Indonesia.
Commenting on the unrest in Hong Kong, Odier said there was no need to change its presence, although some clients were now reluctant to increase business in Hong Kong. «We believe the problems will be solved,» he said.
