Mizuho Financial Group and Lombard Odier expand and strengthen collaboration with new Sustainability Alliance agreement

Mizuho Financial Group, Inc. (President & Group CEO: Masahiro Kihara) (“Mizuho”) and Lombard Odier Trust (Japan) Limited (Representative Director: Vincent Magnenat) (“Lombard Odier”), the Japanese entity of Swiss group Lombard Odier, have today signed a new memorandum of understanding (MOU) covering sustainability, expanding its areas of cooperation beyond the existing Strategic Alliance Agreement1 for private banking.

The new sustainability alliance is an extension of the existing collaboration between Mizuho and Lombard Odier forged in 2023, and underscores a commitment to drive sustainability advancements in Japan.

With this new alliance, Mizuho will expand its areas of cooperation with Lombard Odier in sustainability, and gain access to Lombard Odier’s comprehensive range of sustainability strategies with tailored solutions for clients. In addition, the sustainability alliance will help to refine Mizuho’s sustainable investment offerings in alignment with international standards, and to position Mizuho as a forerunner in sustainable finance practices.

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As part of the new sustainability alliance, Lombard Odier, a global wealth and asset manager with a strong focus on sustainability investing, will act as strategic advisor and consulting partner to Mizuho. Lombard Odier will bring its global sustainability expertise to the Japanese market, with the aim of establishing systems in sustainability, and enhancing sustainability solutions for high-net-worth clients in Japan. In return, Lombard Odier will tap into Mizuho’s strong network and knowledge to gather insights on sustainability within the Japanese market, jointly develop sustainability-related investment strategies, and expand its presence in the market. 

In line with global trends, Japanese clients have taken an increased interest in sustainability issues. To cater to this opportunity, Mizuho has been strengthening its initiatives in the sustainability space. As part of the medium-term business plan set out at the beginning of FY2023, Mizuho has articulated its long-term vision for the future — to realise personal well-being and a sustainable society and economy.

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Since the initial Strategic Alliance agreement was formed, Mizuho has leveraged Lombard Odier’s global network, resources, and expertise to develop and provide more sophisticated products and services for its clients. Through knowledge sharing, Mizuho has enhanced its talent development approach and acquired private banking insights through Lombard Odier’s training and capacity-building programs.

Atsuhiro Morishima, Deputy Head of Retail & Business Banking Company at Mizuho Financial Group said, “We are delighted to partner with Lombard Odier to advance sustainability initiatives in Japan’s financial sector. By leveraging Lombard Odier’s extensive capabilities and expertise in sustainability research, we are confident in our ability to deliver innovative solutions that meet the evolving needs of our clients, underscoring our commitment to driving positive environmental impact through sustainable financial practices.”

Jean-Pascal Porcherot, Managing Partner at Lombard Odier, said “At Lombard Odier, we believe that system changes resulting from the transition to a more sustainable economy will result in profound changes in business models, value chains and profit pools. As a high-end investment firm, we have strong sustainability research and investment expertise to help identify the opportunities and risks that are emerging from this transition. We are delighted to partner with Mizuho Financial Group to support clients in Japan who are seeking sustainable long-term value.”

Vincent Magnenat, Limited Partner, Asia Regional Head and Global Head of Strategic Alliances at Lombard Odier, said “We are excited to strengthen our relationship with Mizuho Financial Group and further advance sustainability in the Japanese market. Our role as a wealth and asset manager is to assist clients in navigating the risks associated with the transition to sustainability as the economy transforms from one that is Wasteful, Idle, Lopsided and Dirty to an economy that is Circular, Lean, Inclusive and Clean. By fostering knowledge sharing, we aim to empower Mizuho Financial Group to lead the way in sustainable finance practices in Japan.”

Mizuho and Lombard Odier will continue to work towards realising a sustainable economy, society and environment, and offer products and services that meet the diverse needs of Japanese high-net-worth clients and their families.