225-year old private bank Lombard Odier formalizes its strategic partnership with Australian wealth manager JBWere by inking an official agreement.
Lombard Odier and JBWere have officially signed a strategic alliance agreement, according to a statement, formalizing a partnership formed in 2011.
The agreement officially enables JBWere to gain onshore access to Lombard Odier’s risk-based investment offering such as the conviction multi-asset approach, goal-based investing, sustainability strategies as well as family services expertise and access to private assets. JBWere can also potentially establish a direct banking relationship with Lombard Odier or collaborate through an external asset manager model to gain access to the product platform.
In exchange, Lombard Odier will be able to leverage JBWere’s local knowledge and network to grow its client base in the Asia Pacific region.
JBWere
JBWere has a more than 180-year wealth management track record with a focus on private wealth, corporates and non-profit organizations.
According to the statement, it has $60 billion in funds under advice, of which more than $10 billion is managed on behalf of for-purpose and charitable entities.
Onshore Strategy
The latest formalization of the agreement with JBWere is part of broader plans at Lombard Odier to establish partnerships in various markets to bolster the pure-play private bank's onshore reach.
In addition to Australia, Lombard Odier also has strategic alliances with Thailand’s Kasikorn Private Banking, Indonesia's Mandiri Private, Japan’s Mizuho Securities unit in Singapore, Taiwan’s Taipei Fubon Bank and the Philippines’ UnionBnk Private Banking.
«At Lombard Odier, we believe that the future of private banking is both offshore and onshore. This latest addition of JBWere to our ecosystem of strategic alliances in Asia-Pacific reinforces Lombard Odier’s commitment to providing local, regional and global opportunities for the high net worth and ultra-high net worth population in the region,» said Asia chief executive and limited partner Vincent Magnenat.
