Lombard Odier first started a risk-based investment portfolio management service to manage its own pension fund in 2009, before extending it to institutional customers in Europe and elsewhere.
Is Lombard Odier’s Swiss heritage still relevant for the bank’s development at all?
Lombard Odier certainly has strong values after 222 years of existence. The way we manage money defines our style. We only operate in regions that we really understand and to achieve this, we certainly need a blend of Swiss values and a local approach.
As a business, we apply the same family principles upon which we were founded and we are here to support Asian families by safeguarding their interests, helping to grow their assets and to pass them onto the next generation.
«The question we always get from clients is, why have they not heard of us before?»
What is also very encouraging for us is that every time we start to engage with clients, and we explain who we are and our values, we see greater interest. The question we always get from clients is, why have they not heard of us before?
Where are your priorities this year?
The priority for the bank is to continue to grow our business on the four pillars of growth we have defined. I see further developments through our relationship managers as well as through our partnerships with local banks. There are new partnerships in the pipeline for this year and several countries in Asia still to tap.
What are Lombard Odier’s criteria for partnerships?
First, of course, it has to be a reputable bank that shares our views and values. It is less the size that counts and more the alignment to what we stand for and what we plan to do.
«Never say never»
Second, we aim for a holistic approach with our investment philosophy, and a shared belief that the future of banking in Asia is onshore.
Does this ambition also include new offices in Asia?
Never say never, but this is not in our pipeline at the moment. We favour expansion in the region through adding further partnerships to our existing network.
Vincent Magnenat, based in Singapore, has been named limited partner and CEO in Asia of the Lombard Odier Group last February. Prior to joining the Geneva-based wealth manager in 2012, the Swiss-born banker spent nearly nine years at French bank Société Générale. He began his career in international private banking at Credit Suisse in Switzerland and relocated in 2002 to Singapore. He has worked and lived in Hong Kong and Singapore for 16 years. This is the second installment of finews.asia's interview with Vincent Magnenat. Here is the first one.
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