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Celebrating 30 years - Lombard Odier Zurich continues to grow
We, at Lombard Odier, have always valued our close relationship with our clients as well as our proximity to them. Today, we have over 25 offices worldwide, including five in Switzerland. Established in 1796, our Bank first opened in Canton Vaud, Geneva, followed by an office in Lausanne in 1882. Thirty years ago, we set up business in both Zurich and Vevey, and more recently, in 2008, we settled in Fribourg. In the Swiss private banking landscape, Lombard Odier has one of the highest proportion of Swiss clients – including individuals, families, entrepreneurs and those who are self-employed.
In celebration of Zurich’s 30th anniversary, we spoke to Felix Oeschger, Head of Private Client Services in Zurich on what makes Zurich different, our clients and what the future may hold.
What makes the Zurich office different?
We offer a wide range of investment and wealth planning services, making full use of the bank’s expertise. It’s important that Lombard Odier has continuity of service throughout the country, although, naturally, each office has its own identity based on its local ecosystem. Zurich is the largest financial centre in Switzerland and plays a leading role in wealth management. This region offers attractive growth prospects and shows incredible economic momentum, which supports our business. To this point, we have supported large companies as well as an extensive network of local small and medium-sized businesses.
How do you achieve growth in your business?
In the past few years, we have developed a strategic plan to expand our presence in Zurich and to raise the profile of our teams and expertise. We have seen significant growth in our assets under management and have now reached a certain critical mass. In the past five years, we have hired around 20 employees, bringing the headcount in Zurich to over 100; this makes it the second-largest Swiss office after our headquarters in Geneva.
How does the bank position itself, today, in the Zurich financial centre? What type of clients do you serve?
What sets us apart is our independent governance model, with our seven Managing Partners, who are both owners and managers. We also have a very targeted approach; by devoting ourselves solely to wealth management, we ensure that we have considerable expertise in this area. Lombard Odier is also recognised for sustainable investing and corporate sustainability and has been awarded the internationally recognised B Corp certification. This expertise, together with our entrepreneurial banking DNA, particularly attracts entrepreneurs and other self-employed professionals, as well as individuals who are conscious of these issues. Moreover, in terms of discretionary mandates, we have one of the highest rates of delegated management in the market, reflecting the confidence of our clients.
Lombard Odier has expanded its offer in Switzerland in recent years, particularly in the pension market. What is the situation in Zurich?
Entrepreneurs and those who are self-employed particularly appreciate the advice we provide in this area. We have considerably expanded our pension expertise in Zurich, and last year we enhanced our skills in wealth planning. For us, it is essential to adopt a holistic approach to wealth and provide long-term support to our clients. This year, in Switzerland, we broke through the CHF 1 billion mark for client pension assets managed, which we consider an extremely positive sign. We can also make use of the Group’s network, which includes partner pension funds in both the French and German speaking parts of Switzerland.
What trends do you see for the future?
I see three strong trends that affect both our clients and our daily business: digitalisation, customisation and sustainable investment. As far as customisation is concerned, our philosophy has always been based on tailor-made solutions. But I think we can go even further with the experience and service we offer thanks to digitalisation. Lombard Odier has been investing in developing its own technological solutions for over 25 years.
Moreover, we have recently received several international awards for our digital expertise, which gives me confidence for the future. Lastly, the issue of sustainability will also intensify in the future, and, here too, I think we have the expertise. We developed our ESG1 analysis methodology over 20 years ago, and have greatly improved and expanded this expertise in the past few years. We firmly believe that sustainability is a core principle of long-term investing and will be a source of future returns.
1 environmental, social and governance criteria.
Important information
This document is issued by Bank Lombard Odier & Co Ltd or an entity of the Group (hereinafter “Lombard Odier”). It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a document. This document was not prepared by the Financial Research Department of Lombard Odier.
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