Lombard Int’l in transatlantic HNW expats push

Luxembourg-based Lombard International Assurance has unveiled what it is calling a new, “transatlantic solutions team” of client-facing senior managers, as it looks to expand its presence in the global high-net-worth expatriates marketplace.

The team will join up forces and resources from the United States, Europe, Latin America and Asia, with a particular focus on US expats, working both in the US and across the globe, the company, which has been owned by the US Blackstone private equity group since 2014, said.

The new team includes John Fischer, senior managing director – transatlantic, from the US; Phil Trussell, senior managing director, Bermuda; Helmer Arizmendy, senior managing director, Latin America; Danilo Santucci, senior US tax counsel and wealth planner, Europe;  Lee Sleight, manager– case structuring, Europe; and Freda Liu, marketing officer, Asia.

“More and more, individuals and families are living, working, and retiring in multiple countries, giving them financial touch points that cross jurisdictions,” Fischer said.

“These families have specialised needs, and are subject to increasingly complicated tax, legal, currency and planning issues.

“The transatlantic solutions team will address the complex issues facing US expatriates and prospective US residents by offering an integrated solution set.”

Roll-out of global brand 

As reported, Lombard International Assurance has been undergoing a transformation ever since its acquisition by Blackstone two years ago, beginning with the integration of its business in 2015 with that of a US-based insurance company, Philadelphia Financial, which Blackstone also owned at the time it acquired the Luxembourg insurer.

Lombard International subsequently established a new New York base, and, as reported, hired a new head of its US operations to be based there.

Currently Lombard International’s global assets under management total some US$75bn, and staff numbers are said to exceed 500, but at the rate it is expanding, these are unlikely to stay at those levels for long.

Blackstone, which is also based in New York, is one of the world’s largest private equity houses, with assets under management of more than US$350bn.

Gary Robinson
Head of Video and Ezines at Open Door Media Publishing. Deputy Editor, International Investment. An experienced journalist and filmmaker with more than 20 years' financial services experience, both as journalist and originally as a fully qualified IFA, Gary works across both International Investment and InvestmentEurope titles. Previous video production credits include projects on BBC, C4 and SKY.

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