Welcome!

News Feed Item

The Lombard Odier Group Reports Results for the First Half of 2014

GENEVA, August 28, 2014 /PRNewswire/ --

  • 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
http://www.lombardodier.com

Warren Giles
Media Relations (English)
Tel: +41(22)709-31-57
[email protected]

Christoph G. Meier
Head of Communications
Tel: +41(0)22-709-17-46
[email protected]

Marionna Wegenstein
Pressverantwortliche (Deutsch)
Tel: +41(44)214-14-10
[email protected]

Media Relations
Tel: +41(22)709-21-21

François Mutter
Relations Médias (Français)
Tel: +41(22)709-93-64
[email protected]

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2017' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great t...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these idea...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT depl...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
"Splunk basically takes machine data and we make it usable, valuable and accessible for everyone. The way that plays in DevOps is - we need to make data-driven decisions to delivering applications," explained Andi Mann, Chief Technology Advocate at Splunk and @DevOpsSummit Conference Chair, in this SYS-CON.tv interview at @DevOpsSummit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.