LOMBARD Odier, a global wealth and asset manager, has signed a strategic agreement with Bank Mandiri in Indonesia, further expanding its Asia footprint to offer risk-based investment solutions and wealth management expertise.

Lombard Odier will support Bank Mandiri’s efforts to develop its private banking arm through investment and family services. A complete offering of onshore discretionary management services will be launched by Bank Mandiri this month, with different risk profiles matching Bank Mandiri’s specific needs for its high-net-worth and ultra-high-net-worth clients.

Vincent Magnenat, limited partner, and CEO of Asia-Pacific at Lombard Odier, comments: “Indonesia is a really exciting market in terms of onshore wealth management and we are delighted with the launch of this partnership. This latest regional partnership with Bank Mandiri, the largest bank in Indonesia in terms of assets, reinforces our commitment to onshore private clients in the Asia region, particularly in Southeast Asia where we see great growth potential in terms of wealth management.”

“We look forward to offering Bank Mandiri’s Indonesian private clients access to our top-tier global investment solutions and well-established wealth management expertise. We believe clients want to be served locally and we are delighted to be supporting Bank Mandiri as it expands its onshore private banking offering,” adds Vincent.

Kartika Wirjoatmodjo, chief executive officer at Bank Mandiri, says, “Through this partnership we will be well-positioned to strengthen our position as the leader in Indonesia’s private banking industry, offering our HNW and UHNW private clients the unique combination of Lombard Odier’s global investment and wealth management expertise coupled with Bank Mandiri’s local knowledge and network. This is a huge opportunity for us to offer our private clients high quality services onshore in Indonesia that Lombard Odier provides its own clients across the globe.”

The agreement is the latest in a series of strategic onshore partnerships forged since 2012 to expand Lombard Odier’s network and client base in the Asia-Pacific region, a key growth engine for the Geneva-based global wealth manager.

Lombard Odier announced similar partnerships with UnionBank in the Philippines in August 2016 and with Kasikornbank in Thailand in December 2014. In addition to these Southeast Asia-focused partnerships, Lombard Odier has also forged alliances with financial firms in mainland China, Japan, South Korea and Australia.

Photo: Chongkian