Mizuho Securities Singapore Pte. Ltd signed a cooperation agreement with Lombard Odier (Singapore) to provide wealth management services to meet the offshore needs of Japanese and Asian ultra high net worth (UHNW) individuals, adding 100 such clients and US$800m in assets under management (AUM) last year.
The link-up and further plans to add relationship managers (RMs) and grow AUM to US$10bn in five years mean its been recognised as a Highly Commended (HC) entrant in the Outstanding Private Bank for Growth Strategy at the online Private Banker International (PBI): Global Wealth Summit & Awards 2020.
Mizuho Securities aimed to uncover and meet the diversified and sophisticated wealth management (WM) needs of more clients in the Asian region, particularly those working abroad from Japan in Singapore or vice versa, and to become their most trusted wealth management partner.
The agreement brings together the cutting edge technological WM infrastructure provided by Lombard Odier group and its access to global investment products, with Mizuho's pre-existing large client base. Mizuho’s clients get more advanced tools and products in Singapore, while Lombard Odier gets more scale, creating a win-win growth strategy for both.
The Outstanding Private Bank for Growth Strategy category at the PBI Global Wealth Summit & Awards 2020 was very popular attracting a lot of entries and consequently another Highly Commended recognition for Bank Julius Baer. The winner was RBC Wealth Management.