The Lombard Odier Group Reports Results for the First Half of 2014
The Lombard Odier Group Reports Results for the First Half of 2014
PR57677
GENEVA, Aug. 28 /PRN=KYODO JBN/ --
- Total client assets on 30 June 2014 amounted to CHF 211 billion of which
assets under management were CHF 156 billion
- Consolidated net profit was CHF 62.5 million for the Group
- Fully-loaded Basel III CET1 ratio stood at 23.8%
Assets under management and strategic diversification across three business
lines
Several years ago, Lombard Odier decided to accelerate the expansion of its
private client business in Europe, Asia and Switzerland, to sharpen the scope
of its asset management business and to turn its technology platform into a
profit centre. This long-term strategic evolution is showing steady progress
and positions the firm for the future.
As a result, today the Group is organised around three business lines with
total client assets at the end of June 2014 of CHF 211.0 billion. Total client
assets in the private clients business amounted to CHF 114.7 billion. Asset
management clients invested CHF 47.8 billion. Technology and banking services
clients entrusted an additional CHF 48.5 billion of assets to Lombard Odier.
Solid earnings
The Group's consolidated income in the first six months was CHF 527.1
million and the operational cost base was CHF 429.7 million. Operating
cost-income ratio for the Group stood at 80%, reflecting long-term investments
in three strategic areas: the private client businesses in Europe, Asia and
Switzerland; asset management expertise for institutional clients; and further
developments into the technology platform that Lombard Odier provides to third
parties.
"These results are in line with our expectations and reflect both the
investments we make towards our strategic objectives as well as the
conservative use of our balance sheet," said Patrick Odier, Senior Managing
Partner. "Our Group is increasingly diversified, more international and more
balanced between private and asset management clients and we are expanding our
partnerships with financial services providers. Our solid net profit allows us
to continue investing in all three businesses."
Strong and liquid balance sheet
The consolidated balance sheet totals CHF 17.1 billion and is
conservatively invested. The Group has no external debt and is well capitalised
with a fully-loaded Basel III CET1 ratio of 23.8%, which is well above the
FINMA's 12% target. The Liquidity Coverage Ratio was 653%.
One of the Group's objectives is to remain one of the best capitalised
banks in the world. Lombard Odier's strong capitalisation is a foundation of
its clients' trust in the firm.
About Lombard Odier
Lombard Odier provides its private clients with a full range of bespoke
services such as succession planning, discretionary and advisory portfolio
management, tax reporting and custody services. With a view to remaining close
to its clients' needs, the Group is able
to harness expertise and technology to provide wealth management solutions
across the globe. Lombard Odier has developed significant private banking
operations in Europe, Asia and Switzerland.
Lombard Odier Investment Managers (LOIM), the Group's asset management
unit, seeks to deliver performance by identifying sources of both risk and
return through absolute return, smart beta and high conviction strategies. LOIM
offers its clients a range of innovative solutions including risk-based asset
allocation, thematic equity investments, convertible bonds and absolute return
as well as alternative strategies.
Lombard Odier provides its technology and banking clients with its own IT
and operational infrastructure as well as global custody and reporting services.
The Lombard Odier Group has a presence in the world's main financial
centres and offers its clients a global perspective through its network of
offices in 19 jurisdictions. The Group employs about 2,000 people.
The Group has a AA- Fitch rating with a "stable" outlook.
Lombard Odier is headed by eight Managing Partners, who represent up to the
seventh generation of bankers running the Firm. They are both owners and
managers and are involved with leading the firm's strategy and management as
well as serving clients. Since its founding in 1796, the Firm has stayed true
to its primary vocation of preserving and nurturing the assets entrusted to it
and helping to hand them to future generations.
For more information: http://www.lombardodier.com
Bank Lombard Odier & Co Ltd
Rue de la Corraterie 11
1204 Geneva
Warren Giles
Media Relations (English)
Tel: +41(22)709-31-57
w.giles@lombardodier.com
Christoph G. Meier
Head of Communications
Tel: +41(0)22-709-17-46
c.meier@lombardodier.com
Marionna Wegenstein
Pressverantwortliche (Deutsch)
Tel: +41(44)214-14-10
m.wegenstein@lombardodier.com
Media Relations
Tel: +41(22)709-21-21
Francois Mutter
Relations Medias (Francais)
Tel: +41(22)709-93-64
f.mutter@lombardodier.com
SOURCE: Bank Lombard Odier & Co Ltd
本プレスリリースは発表元が入力した原稿をそのまま掲載しております。また、プレスリリースへのお問い合わせは発表元に直接お願いいたします。
このプレスリリースには、報道機関向けの情報があります。
プレス会員登録を行うと、広報担当者の連絡先や、イベント・記者会見の情報など、報道機関だけに公開する情報が閲覧できるようになります。