Lombard Odier strikes deal with Philippine UnionBank
Swiss asset manager Lombard Odier has signed an agreement with Philippines’ Union Bank that will grant UnionBank clients access to Lombard Odier’s investment products, with the aim of further expanding its footprint in Asia.
The agreement comes in a series of deals signed by Lombard Odier with Asian financial firms since 2012.
The deal includes plans of Lombard Odier and UnionBank to launch a global and diversified multi-asset fund with a risk profile fitting UnionBank’s specific needs for its high-net-worth and ultra-high-net-worth clients.
Vincent Magnenat, head of Private Banking Asia Pacific at Lombard Odier, said that the firm will assist UnionBank in developing its private banking activities focused on long-term global discretionary portfolio management solutions and in-house client support capabilities.
As of end December 2015, Lombard Odier has around $224bn (€198bn) of AUM.