Swiss-based Lombard Odier Group is opening a private bank office in Milan, as it seeks to be closer to clients in Italy and drive future growth in this market.
The Milan office, which will offer a range of wealth management services, such as wealth planning, portfolio management, tax and custody reporting, will be headed by Massimiliano Sorbi and will operate as a branch of Lombard Odier (Europe) S.A., registered in Luxembourg.
This new office complements the existing Lombard Odier private banking network in Europe. After Paris, Brussels, London, Madrid, Amsterdam and Luxembourg, the group is pursuing its policy of targeted expansion across Europe.
“We have been looking after Italian entrepreneurs and their families for a long time. We have always been impressed by the entrepreneurial spirit one can find in Italy and the quality of many of its manufacturing and services industries.
“The opening of an office in Milan will allow us to get closer to many of our Italian clients,” said Frederic Rochat, Lombard Odier group’s managing partner.
“In a world of uncertainty, there is a growing demand in the Italian market for personal relationships and bespoke services provided by an independent private bank with strong financial strength. We believe this unique combination gives us a competitive edge,” said Massimiliano Sorbi, head of Private Bank office in Milan.