Why Lombard Odier is the private bank of choice for Asia’s wealthy families

Article first published in The Business Times on 27 August 2025 here.

When it comes to managing the wealth of Asia’s first-generation entrepreneurs and legacy families, few private banks speak the same language – or share the same roots – as Lombard Odier.

Founded by entrepreneurs more than two centuries ago, the Swiss private bank understands the long-term ambitions and concerns that define Asia’s high-net-worth individuals (HNWIs).

Many are first- or second-generation wealth creators who remain deeply involved in their businesses and are focused on succession, legacy, and family values.

Lombard Odier, itself an eighth-generation independent family business, is uniquely positioned to relate.

“We see our mandate as helping entrepreneurs, business leaders and family businesses to grow, protect and transmit their wealth and assets for generations,” says Omar Shokur, Asia Head of private clients. “The founding families of Lombard Odier are still intimately involved with the workings of the bank for 229 years down the line.”

Our own model, which is anchored in stewardship and sustainability, resonates with the ethos of many family-owned businesses in Asia who are navigating the transition from founder-led to family-led enterprises

Lombard Odier will soon open its new global headquarters at Bellevue. The move provides further foundations for future growth and reinforces the bank’s long-term focus and dedication to delivering Swiss private banking excellence, backed by cutting-edge capabilities and anchored in sustainability.

The bank manages over 320 billion Swiss francs in client assets currently, and prides itself on its financial stability and solidity.

Its perspective is grounded in continuity and stewardship – principles that Shokur believes resonate strongly with Asia’s family-owned enterprises.

“We share our experience and proven best practices to provide valuable support and guide them in their journey,” he says.

“Likewise, our own model, which is anchored in stewardship and sustainability, resonates with the ethos of many family-owned businesses in Asia who are navigating the transition from founder-led to family-led enterprises.”

Shokur has observed a significant evolution in how Asian HNWIs approach wealth over the past five years.

These changes are driven by global economic shifts, social change, and generational transitions. Clients are increasingly focused on long-term, purpose-led planning, and are paying closer attention to areas such as thematic asset allocation and sustainable investing.

“We take a step back from the daily noise of trade and financial market fluctuations to address the core topics that drive every step of a family’s unique journey,” he says.

There is also a noticeable increase in interest in tangible assets such as art and wine, and a desire to diversify beyond equities and fixed income.

Insights from Lombard Odier’s Rethink Family Wealth guide in 2025 show that family offices are now embracing long-term, diversified investment frameworks, including more exposure to private markets. Factors like increasing regulation and large-scale wealth transfer are prompting family offices to adopt more transparent and professionalised structures, often enhanced by digital transformation.

“As a leading high-end investment house, we are constantly investing in tools and talent to offer clients a personalised, multi-advisory experience that is tailored to, and aligns with, their long-term goals across an evolving and dynamic market landscape,” Shokur says.

These efforts have not gone unnoticed. Lombard Odier was named the world’s best private bank for Succession Planning Expertise in the Euromoney Private Banking Awards 2025.

Lombard Odier celebrates its wins across six categories at WealthBriefingAsia and WealthBriefingAsia Greater China Awards 2025.

Growing appetite for DPM

One of the most striking shifts in recent years has been the growing uptake of discretionary portfolio management (DPM) in Asia.

More clients are entrusting the bank to make investment decisions on their behalf, as they look to professionalise their wealth strategy across generations.

“We are witnessing an increasing demand for DPM among our clients in Asia over the years because it is a sustainable way to grow wealth for the long term,” says Shokur.

HNWIs are also increasingly appreciative of the value of having professional expertise in portfolio management, especially in today’s world of increasing geopolitical and macro uncertainty

“A key driver of this increased uptake is the great wealth transfer in Asia, where the shift from one generation to the next has prompted the move toward more professional wealth management and a growing preference to delegate investment decisions.”

Clients value the ability to focus on their businesses, families or philanthropic goals, while relying on the bank’s investment expertise.

“HNWIs are also increasingly appreciative of the value of having professional expertise in portfolio management, especially in today’s world of increasing geopolitical and macro uncertainty.”

This trust is built on a foundation of transparency, consistency and performance.

Lombard Odier’s DPM platform is led by John Woods, its Asia Chief investment officer and Head of investment solutions, and Jack Siu, Head of DPM in Asia.

The duo is supported by a network of economists and asset class specialists based both in Asia and at the bank’s global network.

“Our mission is to deliver the best possible investment performance for our clients,” says Shokur.

In recognition of that mission, the bank received Euromoney’s award for World’s Best Chief Investment Office, and WealthBriefingAsia’s best Discretionary Portfolio Management Provider award earlier in 2025.

Glean insights from our House View for the second half of 2025 here.

Private assets are also rising in prominence among Asia’s wealthy. The region is now the world’s second-largest market for private market investments.

“Private assets have become a core component of strategic asset allocation for many of our clients, especially in Asia,” Shokur says. “Amidst rising volatility, private assets are increasingly valued for their potential to boost portfolio resilience while tapping into long-term growth potential.”

Despite this interest, overall adoption is still relatively low. In 2023, results from Lombard Odier’s APAC HNW Individuals Study found that while nearly 60 per cent of investors are interested in private assets, many have yet to act on that interest due to uncertainty around market conditions or a lack of familiarity.

The bank is seeing rising interest and deal volume in private equity, specifically in the Internet sector, artificial intelligence tech supply chain, and high dividend-yielding companies.

Generational differences are also becoming more apparent.

‘Younger HNWIs are particularly drawn to private market investments that align with their personal purpose or entrepreneurial interests and generally invest more in digital assets,” Shokur says. “Clients from the current generation appreciate the diversification and long-term return potential these strategies bring.”

As a leading high-end investment house, we are constantly investing in tools and talent to offer clients a personalised, multi-advisory experience that is tailored to, and aligns with, their long-term goals across an evolving and dynamic market landscape

Asia remains centre stage

Lombard Odier is also sharpening its focus on South-east Asia, drawn by the region’s demographic momentum and growing pool of entrepreneurial wealth.

The bank sees strong potential in markets in the region, where youthful, digitally connected populations are expected to drive a substantial increase in HNWIs.

“South-east Asia is a vibrant and diverse region, with an entrepreneurial client base that is increasingly international in outlook,” says Shokur.

Unlike North Asia, where much of the wealth growth is driven by intergenerational transfers, South-east Asia’s clients are often first- or second-generation business owners actively building their legacy.

Singapore plays a pivotal role in the bank’s regional strategy. As Lombard Odier’s hub for South-east Asia, the city-state supports cross-border and family office services across the region.

“Singapore is a promising market for demand for cross-border and family office services,” says Shokur. “The city’s robust regulatory environment and talent pool make it an ideal base for scaling our business and underscores our long-term commitment to the region.”

To meet evolving client needs, the bank is expanding headcount and strengthening its advisory capabilities.

This includes hiring experienced bankers and building teams that combine global expertise with local insight. It recently brought onboard an experienced banker, Andrea Meierhofer, as its South-east Asia market head for private clients.

North Asia still remains a key region for Lombard Odier – it recently announced the appointment of Alfred Low as its North Asia Market head and Hong Kong CEO, subject to regulatory requirements.

Read more about our latest strategic hires in Asia here.

“We’re focusing on strengthening our presence and investing in the region, both in terms of talent and capabilities,” says Shokur.

Strategic alliances with local financial institutions are also a key part of Lombard Odier’s approach.

These partnerships allow the bank to deliver onshore solutions informed by regional context, while bringing Swiss-based investment expertise to onshore clients of its strategic alliances across Asia.

“We work closely with our Strategic Alliance partners and tap into their insights and deep understanding of their respective local markets so that we can serve the region’s leading families and entrepreneurs better,” he says.

Source: The Business Times © SPH Media Limited. Permission required for reproduction.