Citywire - For Professional Investors

Register to get unlimited access to all of Citywire’s fund manager database. Registration is free and only takes a minute.

Lombard Odier signs Japanese partnership deal

Lombard Odier signs Japanese partnership deal

Swiss investment company Lombard Odier has signed a wealth management agreement with Mizuho Securities Singapore (MHSS), the latest in a series of onshore partnerships.

MHSS is a subsidiary of Tokyo-based Mizuho Securities Group, which offers services such as asset management and succession through equities and investment trusts.

The deal allows MHSS’ clients to have access to Lombard Odier’s wealth management platform. What’s more, Lombard Odier will also help to boost MHSS’ capabilities in wealth management, through training and knowledge sharing.

MHSS chief executive Hirona Ishii said this agreement is an important part of Mizuho’s strategy to build a wealth management business, plus expand footprint in the Asia Pacific region.

‘Through the agreement, Mizuho aims to capture and meet the diversified and complicated wealth management needs of clients in the Asian region,’ he said.

For Lombard Odier, this is the second onshore deal the company has locked in this year. In April, the wealth manager agreed to support Indonesian state-owned lender, Bank Mandiri, to develop its private banking arm and family services.

Prior to that, Lombard Ordier signed a partnership with UnionBank in the Philippines in August 2016, and Kasikornbank in Thailand in December 2014.

Vincent Magnenat (pictured), limited Partner and Asia Pacific chief executive of Lombard Odier said: 'By teaming up with MHSS we are excited to further expand our partnership network in Asia Pacific.

‘Through our two-way knowledge sharing, each party will work to its strengths. Clients will benefit from the combination of Lombard Odier’s global investment and wealth management expertise coupled with Mizuho’s local knowledge and wide Japanese network,’ he added.

Magnenat, who joined the group in 2012 to head the Singapore office and Asia private banking business, was appointed as limited partner in February. 

In an interview with Citywire Asia previously, the executive said he believes the future of private banking is onshore, and Southeast Asia in particular is where Lombard Ordier sees great growth potential.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.