“Wealth is no longer just about accumulation; it’s about preservation, purpose, and legacy,” said Vincent Magnenat, Limited Partner and Asia Regional Head at Lombard Odier, while announcing the firm’s strategic move to establish a dedicated family office hub in Singapore. This decision underscores the growing importance of Asia as a wealth management epicenter, catering to the region’s burgeoning population of ultra-high-net-worth individuals (UHNWIs).
The Swiss private bank, which has been a pioneer in bespoke wealth services since 1796, revealed that its new facility aims to provide highly tailored solutions for family offices, including multi-generational wealth advisory, sustainable investment frameworks, and next-generation financial education. Singapore, already a global magnet for family offices—with over 1,100 established as of 2023—offers a robust regulatory environment, political stability, and tax incentives, making it a fitting choice for Lombard Odier’s latest expansion.
Magnenat emphasized that the firm’s approach aligns with the shifting priorities of wealthy families in Asia, particularly post-pandemic. “There’s a heightened focus on sustainability and governance. Families are keen to integrate ESG (Environmental, Social, and Governance) principles into their portfolios while ensuring that wealth management strategies reflect their long-term values.”
This move comes as Lombard Odier leverages its 227-year legacy to meet the evolving needs of Asian UHNWIs. The region has seen exponential growth in wealth creation, led by China, India, and Southeast Asia, where the next generation of entrepreneurs and inheritors are redefining traditional approaches to wealth. The Singapore hub will act as a conduit for these families, offering seamless access to global investment opportunities while anchoring in the city-state’s sophisticated financial ecosystem.
The bank’s initiative also signals broader industry trends. According to a report by Bain & Company, the wealth management market in Asia is projected to grow at a compounded annual rate of 10% through 2030, outpacing other regions. Singapore, in particular, has emerged as a preferred destination for family offices due to its Variable Capital Company (VCC) structure, which offers flexibility in asset pooling and tax efficiency. Lombard Odier’s entry further validates the city-state’s strategy to solidify its position as Asia’s wealth hub.
“Singapore isn’t just a gateway to Asia; it’s increasingly a platform for global wealth management,” said Magnenat. “By establishing this hub, we’re not only responding to the demand but also setting a benchmark for service excellence, innovation, and sustainability in the region.”
The announcement has been met with optimism from industry insiders, who view the move as a testament to the growing sophistication of wealth management services in Asia. Lombard Odier’s Singapore hub is expected to attract a diverse clientele, ranging from first-generation entrepreneurs seeking new investment avenues to multi-generational families looking to institutionalize their wealth strategies.
As the firm sets its sights on scaling this initiative, it remains deeply rooted in its core philosophy: combining tradition with innovation to create enduring value. The Singapore hub is not merely an expansion—it is a statement of intent, reflecting Lombard Odier’s commitment to shaping the future of wealth management in Asia and beyond.
(Editors: admin)