Lombard Odier partners with Filipino bank to grow in Asia

Added 18th August 2016

Global wealth and asset manager Lombard Odier has signed a strategic agreement with UnionBank to offer its investment solutions to onshore private clients in the Philippines in a move that further expands the firm’s footprint in Asia.

Lombard Odier partners with Filipino bank to grow in Asia

“[The] 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.”

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.

Global fund launch

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 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.”

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About Author

Kirsten Hastings

Senior Reporter

Kirsten is a senior reporter for International Adviser, covering global news stories about the financial services industry. She joined Last Word Media in October 2015 after two years working as a reporter covering the staffing and recruitment industry. Kirsten has a Masters in Financial Journalism from the University of Stirling. 

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