The two banks pointed out that they will combine Hong Leong Bank's understanding of Asia and Swiss Longau's knowledge of sustainability and long-term asset management to provide customers with more in-depth wealth management services.
Hong Leong Bank of Malaysia and Swiss private bank Lombard Odier has reached a strategic alliance to provide more in-depth asset management services to wealthy people in the Asia-Pacific region.
The statement stated that the establishment of this strategic alliance is timely and aims to meet the changing needs in the rapidly growing market. The wealth scale in the Asia-Pacific region has expanded significantly, the scale of private assets has doubled, and high net worth individuals have emerged in large numbers. These clients need more in-depth guidance, especially in cross-generational wealth transfer.Hong Leong Bank's business base is in Malaysia and has branches in Singapore, Hong Kong, Vietnam and Cambodia. Banks plan to provide global digital banking solutions with customers as the core with their customers.
Swiss Longau specializes in serving private and institutional clients, developing wealth and asset management plans for them. The bank has previously reached similar strategic alliances with local financial institutions in Asia-Pacific markets such as Australia, Japan, Taiwan, Thailand, and the Philippines.
The two sides issued a statement on Monday (May 26) morning, announcing that the above agreement was signed at the bank headquarters of Hong Leong Bank in Kuala Lumpur, Malaysia.