The Swiss bank is expanding in Brazil by opening a new office, part of a major push with Latin America's wealthy.
Geneva-based Lombard Odier is opening an office in São Paulo to be closer to its Brazilian clients, according to a statement Monday. The office will be run by Matteo Dignola, market head for Latin America since 2019.
The largest wealth market in Latin America, Brazil is core to Lombard Odier’s strategy in the region. The move is part of the strategy of the bank focusing on the core markets of Argentina and Mexico, besides Brazil.
Long-Term Commitment
The private bank will join other Swiss rivals in the country, including UBS, which is currently in talks to acquire state-owned Banco do Brasil’s asset management arm. Julius Baer became the country 's largest wealth manager when it took over Reliance in 2018, while Credit Suisse partnered with online-broker Modalmais last year.
«Our expansion in Brazil reflects our long-term commitment to this important market,» Frédéric Rochat, one of six managing partners of Lombard Odier, said in the statement.
