Lombard Odier has appointed Lee Wong as head of family services for Asia. Wong, a Citywire Asia cover star joins from Union Bancaire Privée in Singapore, where she was head of wealth planning for South Asia.
At Lombard Odier, she has been tasked with developing existing wealth planning and family services proposition, which is key to the family-owned firm. Based in Singapore, Wong reports to Asia CEO Vincent Magnenat.
In addition, Seema Bhayat, who is head of wealth planning and the deputy head of private banking in Asia, has been promoted to local managing director of Lombard Odier in Tokyo. Bhayat is responsible for further expanding the private banking business in Japan.
Approximately 5-8% of Lombard Odier’s global assets under management come from its 30 relationship managers, partnerships and family services in Asia.
The bank is also pursuing a strategy of onshore partnerships in the region to grow its investment management and wealth planning businesses.
The focus on wealth planning is particularly strong for its partnership with UnionBank in the Philippines. The country will see 40% rise in its ultra-high net worth population by 2026, according to Knight Frank’s Wealth Report 2017.