Luxembourg-headquartered private bank KBL and Geneva-headquartered private bank Lombard Odier have announced the signing of a strategic IT and operations partnership agreement.
Lombard Odier will establish a new company in the Grand Duchy – staffed by KBL epb specialists and Lombard Odier employees – to provide KBL epb IT and Operations support, hosted on an external platform.
According to both parties, the company will reach full operational status in the course of next year, in line with overall project development.
“The signing of this agreement is a game-changing event for our group,” said Yves Stein (pictured), group CEO at KBL epb. “Moving forward, we will be much better equipped to respond to rapidly evolving client needs, enhancing our ability to meet those requirements in a more international environment.
“Consequently,” Stein added, “our group will be even more strongly positioned to achieve accelerated external growth – backed by a provider with a proven track record, pan-European presence and local awareness.”
“We are delighted to roll out the next evolution of our IT platform in partnership with KBL epb,” said Alain Picquet, co-head of Technology and Banking Infrastructure at Lombard Odier. “We look forward to working closely with KBL epb’s specialist staff as we continue to extend our processes and platform, reinforcing their IT and Operations activities in the years to come.”