*"Singapore has emerged as a nexus for wealth management innovation, and we see immense potential in supporting families across Asia with bespoke solutions," said Vincent Magnenat, Lombard Odier’s Limited Partner and CEO for Asia-Pacific, announcing the firm’s latest strategic move.*
In a significant development for the region's wealth management landscape, Swiss private bank Lombard Odier has unveiled its new Family Office Hub in Singapore. The announcement underscores the institution's commitment to providing tailored services for ultra-high-net-worth families in Asia, a region witnessing exponential growth in private wealth. This hub aims to address the complex needs of wealthy families, offering expertise in succession planning, governance structures, and sustainable investment strategies.
The launch comes at a time when Singapore is cementing its status as a global wealth management hub, driven by a confluence of political stability, favorable tax structures, and a burgeoning ecosystem of financial expertise. Lombard Odier’s move is also a response to increasing regional demand for sophisticated family office services amidst a generational wealth transfer estimated at $1.9 trillion over the next decade.
Rooted in a 227-year history of wealth stewardship, Lombard Odier has long been recognized for its innovative approach to asset management and its dedication to sustainability. The Singapore Family Office Hub will draw on the bank’s global resources while integrating local expertise to address the nuanced needs of Asian families. Services will include multi-jurisdictional tax planning, cross-border estate structuring, and philanthropic advisory, alongside the firm’s hallmark focus on sustainable and impact-driven investment opportunities.
*"The dynamics of wealth in Asia are evolving rapidly, with families increasingly prioritizing legacy, purpose, and sustainability in their decision-making,"* explained Magnenat. *"Our objective is to be more than just an advisor—we aim to be a trusted partner who can navigate the intricacies of wealth management for generations to come."*
The establishment of the hub also reflects broader trends in global wealth management, where family offices are transitioning from traditional asset preservation to a more holistic approach encompassing values-based investing, intergenerational education, and digital transformation. By situating the hub in Singapore, Lombard Odier is positioning itself at the forefront of these evolving priorities, leveraging the city-state’s robust regulatory framework and strategic location to serve clients across Asia-Pacific.
Lombard Odier’s move is likely to intensify competition among global private banks and wealth managers vying for a share of Asia’s wealth. However, with its deep-rooted expertise and forward-thinking ethos, the firm appears well-placed to capture market share and set new standards for family office services in the region.
As Singapore continues to attract a growing number of high-net-worth individuals and family offices, initiatives like Lombard Odier’s hub are poised to play a pivotal role in shaping the future of wealth management in Asia.
(Editors: admin)