Bank Lombard Odier & Co Ltd
Origin of Bank Lombard Odier & Co Ltd
Bank Lombard Odier & Co Ltd was founded in 1796 as Hy Hentsch & Co by Henry Hentsch. In 1798 Jean Gédéon Lombard joined the company, and the name was changed to Bank Henri Hentsch & Lombard. In 1907, the bank was a co-founder of the Swiss National Bank. In 1951, the bank was the first Swiss private bank to set up a branch abroad, in Montreal. In 2002 the name was changed to Lombard Odier Darier Hentsch & Co. As of 2009, the current name is Lombard Odier. The seventh generation now runs the bank. The bank’s roots are clearly in Switzerland, but its business activities are very international.
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Philosophy and Strategy
At Bank Lombard Odier & Co Ltd, the partners are owners and leaders of the company and are also involved in the day-to-day business. Customer care is the core of the company. Lombard Odier has survived 40 crises since its inception and has come out stronger each time. Lombard Odier is not prepared for short-term trends; the bank is thinking long-term and value preservation of client assets is a top priority. Lombard Odier is financially very strong, and this enables the bank to renew and improve its services continuously and to invest in new businesses.
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Services and Solutions
Bank Lombard Odier is very active in asset management. Asset Management is the core area of the bank. The customers of the bank are private persons, companies, foundations or flat-rate taxpayers. The preservation and steady growth of wealth from generation to generation is the goal of the bank. A division in the customer business is Investment Solutions. There are more than 300 experts worldwide, who make the right decisions for the customer and implement the asset allocation accordingly.
Lombard Odier also offers its customers the possibility of Lombard loans. Liquid assets such as shares, bonds or funds are the guarantee and are pledged as collateral. Asset Management is there for financial intermediaries and institutional clients. Under the name Lombard Odier Investment Managers, asset management offers a variety of products, including fixed income, convertibles, equities and alternative investments.
There are also various investment funds and ETFs (Exchange Traded Funds) available. Asset Management is represented at ten locations worldwide. For the external asset managers, Lombard Odier is a very competent partner. They are supported very strongly, and all the services of the bank are available to them. There are nine branches worldwide from which the external asset managers are looked after.
Risk Management
The nature of the financial and banking industry is to get involved with direct and indirect risk. Lombard Odier takes only risk which fit their business policy. Risk management is an integral part of Lombard Odier’s Group strategy. It ensures the continuity and durability of the business and preserves the financial interests and the reputation. The Supervisory Board acts as the risk committee.
The Administration of the risk profile notifies the SB of any significant events that may alter the risk profile of the group. The Administration defines the principles and the architecture of the internal control system. The Finance, Risk & Due Diligence committee has decision making powers, the Chief Risk Officer implements the decisions and the Risk Management Unit reports on a regular basis.
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Added-Value Services
Lombard Odier has received various awards. In April 2018, the bank won an award in London from The WealthBriefing European Awards for Best European Private Bank Investment Manager Platform, as well as Best Marketing and PR Campaigns. The bank also received several awards at the “WealthBriefing Swiss Awards 2018”. Bank Lombard Odier is also involved in sponsoring.
In principle, three aspects play an important role in decisions; Innovation, sustainability and cultural projects. Under the name My LO, Lombard Odier has developed a universal tool that allows customers to monitor their assets with state-of-the-art technology and make targeted investment decisions, whether on a smartphone, tablet or PC. In addition to My LO, there is LO Trading, which covers the global markets and provides research and LO Docs, the digital library for reports and documents.
The IT solutions from Lombard Odier are state of the art. Lombard Odier’s banking platform is G2. Whether private customers, institutional customers or family offices, all can use the platform. G2 is robust, flexible, independent and offers front office, banking, and accounting under one roof. The front office is the management and analysis of portfolios; banking includes the trading of securities and foreign exchange, the back office and risk management. In addition to the G2 platform, there is also a Global Assets + solution that includes three areas. The global custody and reporting solutions, the private label funds and the securities accounting.
Bank Lombard Odier & Co Ltd – Facts & Figures
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| Address | Rue de la Corraterie 11, 1204 Geneva |
|---|---|
| Phone | +41 22 709 21 11 |
| Website | www.lombardodier.com |
| Year of foundation | 1796 |
| Subsidiaries | 17 |
| No. of employees | 2’616 |
| Rating | Fitch AA- |
| Chairman | Patrick Odier |
| CEO | Frédéric Rochat |
| Eligible Regulatory Capital | 1.484 bn CHF |
| Tier 1 Ratio | 28.90 % |
| Leverage Exposure | 23.330 bn CHF |
| Leverage Ratio | 6.40 % |
| Liquidity Coverage Ratio | 206 % |
| Risk Weighted Assets | 5.145 bn CHF |
| Loans outstanding | 5.533 bn CHF |
| Assets under Management | 217.352 bn CHF |
| Assets under Management / Employees | 83.085 m CHF |
| Net profit | 270.108 m CHF |
| Net Profit / Employees | 103’252 CHF |
| Cost / Income Cost Ratio (CIR) | 73.64 % |
| Return on Equity | 18.35 % |
| Own structured products | Yes |
| Foreigners accepted | Yes |
| Presence abroad | Europe, Middle East, Asia, Americas |
Source: Annual Report 2021
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