Hong Leong Bank (HLB) has announced a strategic partnership with Swiss private bank Lombard Odier on Monday to strengthen its private banking and regional wealth management services.
The partnership brings together HLB’s local expertise and Lombard Odier’s global investment experience. HLB says the collaboration will allow it to offer more personalised and comprehensive wealth solutions to high-net-worth clients in Malaysia and across Asia.
HLB Group Managing Director and CEO Kevin Lam said the bank is responding to growing demand for wealth services that go beyond traditional banking.
“More people are building wealth and looking for ways to manage it across generations. This partnership allows us to provide world-class expertise to help clients build and preserve their wealth responsibly,” he said.
Clients will gain access to investment insights from Lombard Odier’s global Chief Investment Office, combined with HLB’s understanding of local markets. The services will include succession planning, sustainable investments, and tailored financial strategies.
HLB is also taking internal steps to support its wealth business, including hiring experienced talent, setting up a training platform called Wealth Academy, and using AI tools to help its relationship managers serve clients more effectively.
Managing Director and Regional Head of Wealth Management at HLB Jeffrey Yap, said the Asia-Pacific region is seeing strong growth in private wealth, with more individuals looking for long-term financial planning.
“The number of high-net-worth individuals is increasing, along with the transfer of wealth to the next generation.
“We want to help clients manage that process with the right advice and solutions,” he said.
The partnership also supports Hong Leong Asset Management Berhad (HLAM), which will tap into Lombard Odier’s capabilities as a target fund manager to expand its range of investment offerings.
Lombard Odier’s Asia Group Regional Head, Vincent Magnenat, stated that HLB is a good fit for the firm’s strategy in Asia.
“We look for partners who share our long-term thinking and focus on innovation. HLB’s goals and values align closely with ours,” he added.
HLB said it will continue exploring other strategic partnerships to strengthen its position in the regional wealth management market.
Shahriena Shukri is a journalist covering business and economic news in Malaysia, providing insights on market trends, corporate developments, and financial policies. More about Shahriena Shukri.
