Lombard Odier Takes Aim At Thai Wealth Market Through Strategic Partnership

Tom Burroughes

11 December 2014

, the Australian bank, through which these firms offer services to each other’s clients. Vontobel has a similar partnership agreement with Australia & New Zealand Banking Group.

“This partnership with a leading Thai financial institution will allow us to enter the market in a significant way,” Vincent Duhamel, head of Asia at Lombard Odier, said in a statement.

According to the memorandum of understanding, Lombard Odier will manage global investment funds on behalf of Kasikornbank’s private clients in return for a management fee.

Under a separate arrangement, Lombard Odier will also act as an exclusive offshore custodian for Kasikornbank clients, using Singapore as a booking center. Kasikornbank clients with assets under custody in Singapore will access Lombard Odier’s broad network of private banking experts. Kasikornbank will refer high net worth private clients to Lombard Odier, where appropriate, while the Swiss firm will provide advisory training for the Thai bank’s relationship managers and financial advisors, the statement added.

"A key objective of this partnership was met to incorporate Kasikornbank and Lombard Odier's experiences, thus contributing to even higher international standards in our work," said Banthoon Lamsam, chairman of the board and chief executive officer of Kasikornbank.

"Our two banks will work together to see the wealth of our customers grow to the highest levels possible, while risks will be kept under even more systematic control. It is our hope that we can fulfill the life aspirations of our clients and create worry-free financial security," he said.