LOMBARD ODIER ENTERS STRATEGIC AGREEMENT WITH PHILIPPINES’ UNIONBANK
- Alliance with the Philippines’ seventh-largest bank to grant onshore UnionBank clients access to Lombard Odier’s globally diversified, risk-based investment solutions
- Agreement represents latest alliance with Asia financial institution to give Lombard Odier access to High Net Worth (HNW) clients in onshore markets across Asia
- Lombard Odier to support UnionBank efforts to develop its private banking armthrough investment and wealth planning services
Global wealth and asset manager for private and institutional clients Lombard Odier has signed a strategic agreement with UnionBank to offer its unique investment solutions to onshore private clients in the Philippines in a move that further expands its footprint in Asia.
The agreement is the latest in a series of strategic alliances forged since 2012 that have enlarged Lombard Odier’s networks and client base in the Asia region, a key engine of growth for the independent Geneva-based firm.
Lombard Odier announced a similar partnership with Kasikornbank in Thailand in December 2014 following agreements with financial firms in mainland China, Japan, South Korea and Australia.
“Today’s agreement allows Lombard Odier to offer UnionBank’s onshore private clients in the Philippines access to best-in-class global investment solutions for the first time,” said Vincent Magnenat, Head of Private Banking Asia Pacific at Lombard Odier. “At the same time, Lombard Odier will assist UnionBank in developing its private banking activities focused on long-term global discretionary portfolio management solutions and in-house client support capabilities,” said Magnenat.
According to the terms of the agreement, Lombard Odier and UnionBank plan to launch a global and diversified multi-asset fund with a risk profile matching UnionBank’s specific needs for its high-net-worth and ultra-high-net-worth clients.
“We believe that our private banking clients in the Philippines will value access to a tailor-made investment offering developed by one of the world’s most financially solid wealth managers, which has a multi-generational investment horizon in mind,” said Eugene Acevedo, Senior Executive Vice President Retail Banking and Corporate Banking at UnionBank. “Our financial institutions will collaborate closely to ensure that UnionBank’s clients can grow and safeguard their wealth despite the highly volatile and low-growth global investment environment,” said Acevedo.
About Lombard Odier
Lombard Odier is a leading global wealth and asset manager focused on providing solutions to private and institutional clients. For 220 years, the firm has been solely dedicated to serving clients and forged a strong tradition of innovation in the way it shares advice, manages investment strategies and develops new technologies. With around US$224 billion of total client assets, per end-December 2015, Lombard Odier provides 360 degree wealth management services, with a focus on discretionary portfolio management. Its offering includes succession planning, discretionary and advisory portfolio management, fiscal statements and custody services. Lombard Odier Investment Managers (Lombard Odier IM), the Group’s asset management unit, offers its clients a range of innovative solutions including risk-based asset allocation, thematic equity investments, convertible bonds as well as alternative strategies. One of the world’s best-capitalised banks, with a highly liquid balance sheet, Lombard Odier has grown stronger through more than 40 financial crises and stayed true to its primary vocation of preserving and growing its clients’ wealth. As an independent business wholly owned by its Partners, stability is the watchword. The Partnersare able to maintain a long-term vision and to develop mutual trust with their clients. Lombard Odier Group employs about 2,180 people. Headquartered in Geneva since 1796, the Group has 26 offices in 19 jurisdictions including London, Paris, Zurich, Moscow.
UnionBank of the Philippines is a publicly-listed universal bank that distinguishes itself through superior technology, unique branch sales and service culture, and centralized backroom operations. It is consistently recognized as one of Asia’s leading companies in banking and finance, ranking among the country’s top 10 universal banks in terms of key performance ratios in profitability, liquidity, solvency and efficiency.