Lombard Odier aims to double assets under management in Middle East in next 5 years – The National

Lombard Odier aims to double assets under management in Middle East in next 5 years – The National

Lombard Odier, Geneva's oldest private bank and one of Switzerland's biggest private lenders, aims to double its assets under management in the Middle East in the next five years as regional economies recover strongly from the pandemic on the back of higher oil prices and a rapid vaccination programme.

The 226-year old bank, which had $383 billion in total assets globally at the end of 2021, up 13 per cent on the previous year, has been active in the wealth management business in the Middle East for more than 50 years, with offices in Dubai and Abu Dhabi.

“The Middle East [has been] one of the fastest-growth businesses for Lombard Odier for the last 10 years,” Arnaud Leclercq, group managing director of Lombard Odier, told The National.