The new subsidiaries of the life insurance-based wealth management business, targeted at high net worth and ultra-high net worth clients, are to be named Lombard International Hong Kong and Lombard International Singapore.
Tammy Lu Tsui, formerly Jardine Lloyd Thompson Group’s former deputy chairman in Greater China, has been named as chief executive to oversee the two new brokerage offices and develop the business across Asia.
Ken Kilbane, executive vice president, global distribution for Lombard International, said that under Lu Tsui’s leadership, “the group’s expansion into Asia represents a significant step for Lombard International’s strategic ambitions globally”.
Recruitment drive
He added that she was “well placed” to embark on a recruitment drive for high quality brokers that specialise in the high and ultra-high net worth markets, as well as to lay the foundations for future expansion in Asia beyond Hong Kong and Singapore.”
The new offices will be formally launched after necessary regulatory approvals.
In September 2015, former Friends Provident International executive chairman, John Van Der Wielen, became chief executive of Lombard International after it re-launched as a global brand.
Lombard International has global assets under administration of €68bn ($75bn, £51bn) and staff of more than 500, following the integration of Luxembourg-headquartered Lombard International Assurance with US-headquartered Philadelphia Financial earlier in the same year.
Funds managed by private equity and investment giant Blackstone own Lombard International. Blackstone has assets under management of more than $330bn.
