Lombard Odier Group reports results for 2020
Client assets up 6% to CHF 316 billion with strong net new money.
Lombard Odier has reported results for 2020 with net new money flows strong last year, supported by positive market impacts. Total client assets at end-December 2020 stood at CHF 316 billion, up 6% from end-December 2019.
Operating income for 2020 was CHF 1.4 billion, up 15% from a year earlier, driven by net new money flows, investment performance and increased client activity in volatile markets. Consolidated net profit was CHF 208 million, up 19% from 2019.
“Throughout this challenging year, our results underline the particular strengths of our client focussed business model,” said Patrick Odier, Senior Managing Partner. “We delivered strong investment performance, generated significant net new money flows, and continuously invested in talent and growth opportunities, particularly in new sustainable investment solutions. Once again, our in-house technology was a critical factor in remaining close to our clients and managing risk.”
Teh group reports that it's proprietary banking platform enabled it to stay close to clients and to provide seamless and highly secure service throughout the crisis. The bank will continue to make significant investments in this technology, which has helped build business with clients and third parties for over 25 years.
Lombard Odier is cautiously optimistic in terms of market outlook and remains focussed on the core mission of preserving and growing clients’ assets, while managing potential risks.