Valor Econmico first reported that Swiss private bank Lombard Odier, managing $351 billion globally, is pursuing organic growth in Brazils competitive wealth sector without mergers or acquisitions.The 225-year-old firm, which opened its So Paulo office in 2020, targets ultra-high-net-worth families seeking international diversification and bespoke financial strategies.Frdric Rochat, a managing partner, emphasized patience over shortcuts, contrasting rivals like UBS and Julius Baer that expanded via buyouts.
Brazils economic volatility and high interest rates pose challenges for foreign wealth managers.Lombard Odier counters this by promoting global exposure in hard currencies and sustainability-linked assets.
This approach appeals to entrepreneurs wary of local risks.Marc Braendlin, head of Latin American markets, revealed the bank aims to capture a significant portion of its global assets under management in Brazil.
The banks Brazilian operation, led by Rogrio Zanin, recruits senior advisors from rivals like Julius Baer and JPMorgan.Lombard Odier Bets on Brazils Wealth Surge With Artisanal Banking Strategy.
(Photo Internet reproduction)It avoids mass-market tactics, focusing instead on personalized succession planning and tax optimization for families controlling a large share of Brazils GDP.
Zanin noted rising demand for offshore alternatives despite local banks dominance.Lombard Odiers Swiss heritage attracts clients seeking stability amid Brazils shifting regulations.
Rochat stressed their artisanal approach prioritizes client relationships over scale, with plans to expand So Paulos team.In addition, the strategy mirrors its past mergers, favoring cultural alignment over rapid expansion.
While Brazils economy hinges on agribusiness and a young affluent class, Lombard Odiers bet reflects long-term faith in these trends.Rochat admits competing with local yields remains challenging.
For now, the bank leans on its long-standing ties to Brazilian dynasties, betting patience and customization will outlast rivals scale.