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February 12, 2014updated 04 Apr 2017 2:30pm

Exclusive: Lombard Odier to double UK assets under management

Swiss private bank, Lombard Odier, has revealed ambitious plans to double UK assets under management within the next two-three years.

By Mark Foxwell

Swiss private bank, Lombard Odier, has revealed ambitious plans to double UK assets under management within the next two-three years.

Private banking heavyweight Dominic Tremlett, who took the helm a year ago, said the bank was seeing a boom in the UK market, particularly with non-domicile residents.

"We are in the process of doubling our workforce to cater for an influx of overseas interest in London," said Tremlett.The bank is looking to recruit four new relationship managers in Zurich and a further four in Geneva, who will operate under the UK umbrella.

Lombard’s assets under management for UK non-domicile clients (across the group) amount to $6 billion. The bank said this has increased by more than 20% in the last 18 months.

To cater for the increased demand, the bank’s UK division is currently in the process of providing clients with a single operating platform and relationship manager to handle multi-country, cross border investment.

"This simplifies things for the client, as they will be dealing with just one RM, instead of several in different countries," added Tremlett.In regards to streamlining operations for the client, Lombard is also rolling out a new online mobile digital platform, called G3, which was produced internally by the bank.

Tremlett, who was poached from Barclays, said: "It’s all about simplification and transparency. It allows clients and relationship managers to check every aspect of their wealth portfolios performance by viewing their details on a tablet or laptop."

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