The firm says it is the first Swiss private bank to open an office in the jurisdiction.

Lombard Odier is to open an Abu Dhabi branch, saying it is the first Swiss private bank to have set up shop in the Abu Dhabi Global Market jurisdiction.

“The decision to broaden our UAE operations is testament to our faith in regional growth and economic stability, and our confidence in the Emirates’ future as a key business location and wealth generator,” Arnaud Leclercq, capital partner and head of new markets at Lombard Odier, said.  

The Geneva-based bank said that it has “strong ties with local families and institutions”, including chief investment officer Stéphane Monier, previously working for the Abu Dhabi Investment Authority. Christophe Lalandre, who will head up the new branch, has lived and worked in Abu Dhabi for almost a decade.

The branch has secured approval-in-principle from the local regulator, the ADGM’s Financial Services Regulatory Authority, and its managing director will be Christophe Lalandre. The granting of a licence is subject to final regulatory approval. Lalandre is managing director of Lombard Odier’s Dubai office, where a recruitment drive is ongoing.

The bank said it will offer an international investment offering, and Shariah-based financial solutions. In 2018 the bank’s discretionary mandate was certified as “Shariah compliant” by the Shariah Supervisory Board of Amanie Advisors. 

Lombard Odier won the prize of best overall private bank at this publication’s annual awards for the Gulf Co-Operation Council group of countries, as reported here.