Lombard Odier Group reports results for 2019

Client assets up 16% to CHF 299 billion

Positive net new money

Net new money flows were strong and the market impact on client assets was positive for the year. Total client assets at end-December, 2019 stood at CHF 299 billion, up 16% from end-December 2018.

Growth in operating income and earnings

Operating income for 2019 was CHF 1.2 bn, up 3% from a year earlier. Consolidated net profit, excluding one-off items, was at CHF 175 million, up 6% from CHF 165 million in 2018. The positive net impact of one-off items amounted to CHF 28 million, giving total consolidated net profit of CHF 203 million.

Solid balance sheet and capitalisation

The Group’s balance sheet remains strong, highly liquid and conservatively invested, totalling CHF 17.4 billion. The Group has no external debt and is well capitalised, with a CET1 ratio of 29.8% and a liquidity coverage ratio of 204% at end-December 2019. Fitch reaffirmed the Group’s credit rating at AA- in July 2019.

“Our solid results in 2019 reflect both the impact of strong net new money flows across our businesses, the effects of positive markets as well as clients benefitting from strategic asset allocation. Our focus in 2019 has remained on delivering outstanding service and investment advice to all our private and institutional clients,” said Patrick Odier, Senior Managing Partner.

“Sustainability is the core element of our investment convictions and we continue to incorporate it into our investment processes and strategies.”

“2020 will undoubtedly be an interesting year for financial markets. We remain conscious of the need to manage potential risks, and will remain prudent and agile in our management of clients’ assets.”