The life office-based wealth management firm, owned by global asset management behemoth Blackstone, already has head offices in Philadelphia and Luxembourg and has opened its doors at 400 Park Avenue as it seeks to expand its range of high-net-worth (HNW) solutions.
Following Lombard International Assurance’s merger with Philadelphia Financial in September 2015, the group has made several key appointments to its US team.
John Hillman, executive chairman of Lombard International, said: “New York City is a financial centre for the US and is home to one of the largest concentrations of advisors to HNW individuals, families and institutions in the country.
“The opening of this new office was a strategic initiative to cement our stake in the market, as we seek to increase our proximity to both new and existing clients and their advisers.”
US momentum
Last month the group posted 2015 annual results showing a 66% rise in US new business premiums, compared with a 13% rise in the comparable European figures, indicating the importance of the US market, which had received “overall momentum in [its] US sales effort”.
In a statement at the time the group said the results showed its highest premium income figures on record.
Hillman added: “As we continue to expand our offerings and build out our executive team, it is important that we place Lombard International into key financial markets, positioning the firm as a leader in wealth structuring solutions with a global footprint.”
