Lombard Odier, a leading global wealth and asset manager, is set to open its new branch in Abu Dhabi, thus  expanding its existing footprint in the UAE, and cementing more than half a century’s commitment to clients in the Middle East.

It is the first Swiss private bank to announce its opening in the Abu Dhabi Global Market (ADGM), an award-winning international financial centre – a dynamic financial centre and business hub spurring the growth of local and global financial services.

The new office will complement Lombard Odier’s award-winning representative office in Dubai, and build on a twelve-year presence in the UAE, said a statement from the top European bank.

Lombard Odier’s Dubai office has gone from strength to strength, doubling in size and winning seven prestigious industry awards in the past seven years, it stated.

“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,” remarked Arnaud Leclercq, the capital partner and head of New Markets at Lombard Odier.

The UAE is one of Lombard Odier’s fastest-growing business regions, and a bridge between its European and Asian operations. The bank is witnessing increasing demand from UAE clients, including rising demand for onshore wealth services, he stated.

“Opening a branch office in the UAE’s capital will bring us closer to our clients, and allow us to serve them onshore with bespoke, local solutions,” added Leclercq.

On its selection, the top official said; "Abu Dhabi is one major investment and financial centre which Lombard Odier knows well."

The bank has strong ties with local families and institutions, including from 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 culture and values of Abu Dhabi – a combination of international influences and a strong commitment to local heritage – are a good fit for Lombard Odier. The UAE capital is an important financial centre and attracts families and those with a commitment to sustainability," he added.
 
Based in ADGM, Lombard Odier will offer Abu Dhabi clients both an international investment offering, and solutions in line with the principles of Islamic finance.

In 2018 the Bank’s discretionary mandate was certified as “Shariah compliant” by the Shariah Supervisory Board of Amanie Advisors. The Shariah offering, which was developed over many years, is a local expression of Lombard Odier’s commitment to sustainability.-TradeArabia News Service