Swiss private bank Lombard Odier and Australian wealth manager JBWere have signed a strategic alliance agreement, formalizing a partnership that started in 2011.

Under the agreement, Lombard Odier will provide JBWere clients with onshore access to its globally diversified, risk-based investment solutions such as family services expertise and access to private assets. In turn, JBWere’s strong local network and knowledge is expected to bolster Lombard Odier’s development in Australia.

JBWere is 100% owned by National Australia Bank (NAB) and is part of NAB Private Wealth. It has US$60 billion in funds under administration.

The agreement is the latest in a series of strategic partnerships Lombard Odier has forged since 2012 to expand its network and client base in Asia-Pacific, a key growth engine for the Geneva-based global wealth manager.

These alliances in the region now stand at six. Aside from JBWere, they include Kasikornbank Private Banking in Thailand, Indonesia’s Mandiri Private, Mizuho Securities (Singapore), Taipei Fubon Bank, and UnionBank Private Banking in the Philippines.

Commenting on the latest agreement, JBWere chief executive officer Justin Greiner says: “At JBWere, much like at Lombard Odier, we measure our relationships not just in years, but decades. So, it is very fitting that just over 10 years after our first meeting, we have formalized our partnership with a strategic alliance that provides our mutual clients something they can’t get anywhere else: unrestricted access to markets that are typically inaccessible in their local regions.”

Vincent Magnenat, limited partner and CEO for Asia at Lombard Odier, adds: “At Lombard Odier, we believe that the future of private banking is both offshore and onshore. This latest addition of JBWere to our ecosystem of strategic alliances in Asia-Pacific reinforces Lombard Odier’s commitment to providing local, regional and global opportunities for the [high-net-worth and ultra-high-net-worth populations] in the region.”