Lombard Odier has hired a 30-year private banking veteran, formerly from UBS, to lead its private client business in Asia.
Francis Liu joins Lombard Odier as chief executive of private clients Asia as well as Singapore CEO, according to a statement, effective September 1 and subject to regulatory approval.
Based in Singapore, Liu will be fully responsible for Lombard Odier’s private client business in Asia and report to Asia CEO Vincent Magnenat.
Liu is a longstanding private banking veteran in Asia with around three decades of experience. Liu joins from UBS where he held various leadership positions within its wealth unit over the last 12 years, including his most recent role as APAC head of the ultra-high net worth business. Previously, he also worked at Merrill Lynch Private Wealth Management across Taipei, Singapore and Hong Kong as its head of the Greater China region.
Strategic Alliances
In addition, Magnenat has also taken on an expanded role as global head of strategic alliances, effective 1 September, in addition to his existing role as Asia CEO. Based in Singapore, Magnenat reports to co-head of private banking and managing partner Frédéric Rochat.
This appointment is particularly significant for Lombard Odier as it has been steadily building onshore partnerships to further the growth of client assets. Within the region, it has inked strategic tie-ups with Kasikornbank Private Banking in Thailand, Mandiri Private in Indonesia, Mizuho Securities (Singapore), Taipei Fubon Bank in Taiwan, UnionBank Private Banking in the Philippines, and JBWere in Australia.
«Our strategic alliance model has proven to be a crucial growth engine for Lombard Odier and has allowed us to bring our international investment expertise to clients in new markets,» said Rochat. «We would like to replicate its success in Asia on a global scale under [Magnenat’s] leadership.»
