The future generations are the most important influencers of tomorrow. At Lombard Odier, our ambition is to be the chosen wealth manager for entrepreneurs and families for generations to come. As part of our anniversary event, we held a Next Generation Forum in collaboration with Partner banks in Singapore on 1 November. The occasion gathered more than 130 second and third generation family business participants from all over Asia.

Hosted over two days, the event kicked off with an afternoon session focused on rethinking approaches to family business in order to avoid the risk of failing to survive the third generation.

Lombard Odier Head of Family Services Asia, Lee Wong, outlined the risks and realities of family business failure before joining a panel of second and third generation family business members aimed at sharing experiences of their family business journeys and actions in order to secure enduring family business legacies.

“Many firms in Asia and beyond have failed to survive beyond the third generation oftentimes due to an inability, or unwillingness, to discuss sensitive topics and incorporate the mechanisms needed within family structures to withstand the test of time and external pressures,” said Ms. Wong. 

Key recipes of success that have helped us at Lombard Odier is that our own wealth management business is run by sixth and seventh generation members of the firm’s founding families. Our own story was shared with the audience as the panellists also discussed their own approaches to values, governance, wealth planning and investments.

"Lombard Odier has endured as a business founded on family principles for 221 years precisely because it planned its legacy from its early days and enshrined its core values in its own Charter,” said Vincent Magnenat, Singapore-based Chief Executive Officer, Asia Pacific, at Lombard Odier.

Lombard Odier’s Chief Branding Officer, Fabio Mancone, and Head of Wealth Management IT Solutions Development, Arash Sorouchyari also delivered a presentation on the way we rethink our approach to clients and client experience through technology in order to sustain its legacy for years to come.

Beyond wealth management principles and the importance of constant innovation, the forum also engaged on issues related to managing family business interests for societal good.  

Our special guest speaker, Christiana Figueres, former Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC) and current Convener of Mission 2020, led a fascinating session on refocusing family businesses and their investments on safeguarding the world’s most important asset for coming generations: our planet.  This is a subject close to our hearts at Lombard Odier, as we have been pioneers in responsible investing for over 30 years and believe in using capital for good.