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Lombard Odier inks Indonesia deal

  • Apr 17, 2018

Lombard Odier has signed a strategic agreement with Indonesia's Bank Mandiri to offer risk-based investment solutions and wealth management expertise to the bank.

Lombard Odier has signed a strategic agreement with Indonesia's Bank Mandiri to offer risk-based investment solutions and wealth management expertise to the bank.

According to a statement, Lombard Odier will support Bank Mandiri’s efforts to develop its own private banking arm through investment and family services. 

Bank Mandiri will launch a complete offering of onshore discretionary management services this month for its high-net-worth and ultra-high-net-worth clients, the statement said.

The deal comes after a string of similar such strategic onshore partnerships that Lombard Odier has inked since 2012 to grow deeper into Asia Pacific. 

The Swiss-based wealth and asset manager had inked a similar partnership with UnionBank in the Philippines in August 2016 and with Kasikornbank in Thailand in December 2014.

Lombard Odier had total client assets of USD281 billion as of end-December 2017.

Bank Mandiri is one of the biggest banks in Indonesia with approximately 39,000 employees and 2,603 branches.
 

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