Swiss private banking firm to open Singapore branch

Lombard Odier Darier Hentsch will make use of its Singapore merchant bank license to provide private banking services to Asian entrepreneurs.
One of the largest private banking firms in Switzerland and Europe, Lombard Odier Darier Hentsch, has obtained a license to open a branch in Singapore, which will enable it to offer global private banking services in the Asia region.

The bank says its primary objective is to preserve and grow its clientsÆ assets and help them to pass their wealth on to future generations, which makes it a natural partner for AsiaÆs family entrepreneurs. And according to a release, its services in the region will be particularly focused on this group of clients.

Lombard Odier already has a presence in Asia through two offices in Hong Kong and Tokyo which have been primarily involved in investments, but the Singapore branch will be the first to be operated as a bank. As such it will mark another step in the Swiss firmÆs international expansion, which aims to build a network that is both European and international and which is based on a strong local representation.

Opening on January 2, 2008, the Singapore branch will be headed by Pilippe Sidler who noted in the release that the bank is especially pleased to have ôobtained this license in a region that has strong wealth growth and offers numerous investment opportunitiesö for its clients.

The business development of the office will be led by Richard Wee, who is head of private clients in Southeast Asia and, according to the bank, has 28 yearsÆ of experience in this market as well as sound expertise within private banking. Wee will be supported by Ron Lee, head of private banking investment services in Southeast Asia.

Founded in 1796, Lombard Odier is one of the oldest private banking firms in Geneva and has itself a long history of being run as a family business. Globally, the firm has more than $153 billion of assets under management, 1,800 employees and operates a network of 24 offices in 18 countries. It provides wide-ranging advice to private and institutional clients on wealth management, financial products and specialist services and is also a major player in alternative investments.

Lombard OdierÆs activities in Asia are managed by Jean de Haller, who is one of nine partners of group holding company Lombard Odier Darier Hentsch & Cie.
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