Located in the heart of Hong Kong’s financial district, the new subsidiary will serve local market needs and act as a gateway for future expansion opportunities in Asia.
Chief executive of Lombard International Asia, Tammy Tsui said: “We are very pleased to establish a Lombard International presence in Hong Kong. We chose [to set up our office in] Two International Financial Centre for its close proximity to our banking partners, ensuring we are easily accessible to them.
“It is an exciting step forward in our planned expansion into Asia,” she said.
Global expansion plans
Tsui, formerly deputy chairman of Jardine Lloyd Thompson Group for Greater China, was named chief executive of the life insurance-based wealth management business’s Asian operations in January. She has been tasked with overseeing the two new brokerage offices.
The new Hong Kong and future Singapore subsidiaries will target high net worth and ultra-high net worth clients.
At the time, Lombard International’s executive vice president, global distribution, Ken Kilbane described the new offices as a “significant step” in the firm’s global expansion plans.
Following the merger of Lombard International Assurance and Philadelphia Financial, the combined company rebranded in September 2015.
In January 2016 Lombard International acquired Zurich Eurolife Luxembourg’s private banking solutions.
The firm is owned by funds managed by Blackstone.