Bank Lombard Odier & Co has become the first Swiss private bank to receive a license to operate at the Abu Dhabi Global Market (ADGM), the UAE capital’s international financial hub.

This marks the Bank’s second location in the UAE, enhancing its presence in the Country.

Patrick Odier, senior managing partner of the Lombard Odier Group, said: “We have been serving clients in the Middle East for half a century, and our new branch in Abu Dhabi is the natural progression of our commitment to them, and testimony to our belief in the region. It will bring us closer to our clients, and allow us to serve them onshore with bespoke, local solutions that draw on our global expertise.  We already have strong ties with families and institutions in Abu Dhabi, and working with such a respected, international organisation as the ADGM was the natural choice for us.”

Mohamed Al Qubaisi, vice chairman of ADGM, said: “ADGM welcomes Lombard Odier to its family. Lombard Odier’s presence will increase the vibrancy of our community. We look forward to seeing their contributions in innovative solutions that will better serve customers and new clients. Lombard Odier and its team can leverage on ADGM’s platform and network to achieve their business strategies and widen their foothold regionally and globally.”

Within twelve-years of experience in the UAE, the Bank has doubled in size. The new location at ADGM is in direct response to an increase in demand for Lombard Odier’s services in the region. This also follows the Bank’s recent launch of its Shariah-compliant offering in 2018 to better cater towards its local clients in the Middle East. – TradeArabia News Service