Published in Business Models, 22 July 2025
Entrepreneurs need business and investment support, including highly skilled portfolio management, but private banks can also help establish key connections within the peer group.
Lombard Odier aims to “dial up” its focus on the UK’s “growing population of entrepreneurs” as part of a wider strategy to expand its domestic franchise and support the country’s next generation of wealth creators. The move comes despite the highly uncertain political and economic climate in London, and the exodus of many families to friendlier fiscal and business environments.
[Lombard Odier] is sharpening its proposition for British business owners, many of whom are navigating the challenges of scaling companies, exiting ventures and transitioning to life after liquidity events
The Geneva-headquartered private bank has long served entrepreneurial families, particularly in Switzerland. But under new UK chief executive Mark Goddard the firm is sharpening its proposition for British business owners, many of whom are navigating the challenges of scaling companies, exiting ventures and transitioning to life after liquidity events.
“The plan is to further develop our UK domestic franchise,” says Mr Goddard, who joined Lombard Odier in late 2024 after a 19-year career at UBS. “We’ve historically worked with entrepreneurs, but this hasn’t been the dominant client segment in the UK. That’s what we’re looking to change.”
Mr Goddard, who now leads the UK team from London, says entrepreneurs require a different kind of relationship with their private bank, one that reflects both the operational complexities of running a business and the emotional nuances of stepping away from it.
“There’s a nice resonance with our own story,” he claims, noting that Lombard Odier itself remains privately owned and has operated for more 225 years. “There’s a long-term mindset here that entrepreneurs often relate to.”
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Lombard Odier says it is positioning itself as both wealth manager and ecosystem builder, connecting entrepreneurs with tax advisers, corporate finance experts and peers who have been through similar transitions
Early doors
A key part of the firm’s new approach is to engage entrepreneurs earlier in their journey, well before exit or IPO, and act as a coordinator of advice around them. “We want to be a home for business owners,” says Mr Goddard, “not just post-sale, but in the run-up to it. That includes thinking about succession planning, ownership structures, and the emotional shift that comes with stepping back from the business.”
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learn more Lombard Odier says it is positioning itself as both wealth manager and ecosystem builder, connecting entrepreneurs with tax advisers, corporate finance experts and peers who have been through similar transitions.
“Entrepreneurs often don’t have the peer network we assume they do,” says Mr Goddard. “There’s real value in convening them to talk about exit preparation, management succession and what comes next.”
From his conversations with clients and contacts, one of the biggest concerns Mr Goddard sees is access to growth capital, particularly for companies based outside London and the south-east.
“We have an incredibly innovative business landscape in the UK, but there’s a clear gap in the funding ecosystem once businesses get to a certain scale,” he says. “A lot of founders end up looking to the US or other markets for capital, and that’s something we need to address as a country.”
He cites the scaling up of the British Business Bank and regional investment initiatives as helpful developments but believes there is scope for broader policy support, especially in under-represented regions.
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Newly crystallised wealth
Mr Goddard also calls for more financial literacy and entrepreneurial education in schools. “You can’t teach someone to be an entrepreneur, but you can teach them how businesses work,” he says. “Budgeting, understanding income and assets, those are foundational skills.”
Helping clients navigate this moment, from managing newfound wealth to defining a post-exit purpose, is central to Lombard Odier’s approach
As entrepreneurs exit their businesses, many find themselves unprepared for the complexity of managing newly crystallised wealth. “They’ve been focused on building their business for years, and their personal finances often get left to the side,” Mr Goddard observes. “Then they’re faced with legal, tax and investment decisions, often with limited knowledge or confidence.”
Helping clients navigate this moment, from managing newfound wealth to defining a post-exit purpose, is central to Lombard Odier’s approach. “It’s about asking: What is it all for? Do you want to support your family, invest in new ventures, or back social causes?”
Younger entrepreneurs, he adds, are increasingly focused on impact. “There’s definitely a generational shift. We’re seeing more interest in philanthropy, sustainability and using wealth to drive change.”
Lombard Odier, which has its own philanthropic foundation, aims to support this evolution with planning tools, giving vehicles and structured conversations around values.
Mr Goddard sees several long-term challenges for private banks in serving this segment, chief among them is technology.
While some UK entrepreneurs continue to explore exits to more attractive jurisdictions, due to tax changes, most are remaining committed to the UK
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“Entrepreneurs expect seamless access to advice, reporting and decision-making tools,” he says. “The bar is higher, and that’s where Lombard Odier’s in-house technology platform gives us a real edge.” The bank has built much of its digital infrastructure internally, including solutions it sells to other wealth managers.
Another major theme is navigating global uncertainty, whether political, economic or regulatory. Mr Goddard notes that while some UK entrepreneurs continue to explore exits to more attractive jurisdictions, due to tax changes, most are remaining committed to the UK.
“There’s still deep confidence in the UK as a place to build and grow businesses,” he claims. “Yes, people are asking more questions, especially around tax. But fundamentally, the quality of life, the legal system, and the ecosystem still resonate.”
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