Luxembourg-domiciled Lombard International Assurance has restructured its operations to create a Private Wealth Solutions and Marketing department.
The life insurer, part of the Friends Provident Group, said the new department was aimed at enhancing its ability to provide tailor-made wealth structuring solutions for high net worth individuals and families across Europe.
To create the new department Lombard has grouped its marketing, legal and tax activities to form a new team consisting of more than 50 professionals including lawyers, tax experts, actuaries, economists and communications specialists.
The new operation is led by director Loïc Le Foll, supported by Stephen Cotter, Philipp Resch and Francesco Bruno, who each head the business development, business legal and wealth planning teams respectively.
Lombard CEO David Steinegger said the new department will be at the core of Lombard’s business – and set it apart from its competitors.
“We are already recognised as having the largest and best wealth structuring capability of any life company and gathering all this expertise and experience together in one team gives us the critical mass we need to build on this position,” said Steinegger.
Le Foll added: “With the modern world’s emphasis on onshore compliant solutions, the team’s detailed understanding of the fiscal, legal and cultural realities of each country in which we operate is a key advantage.”
He further highlighted that the creation of the new team meant Lombard could put in a dedicated task force "when required to cope with peaks in demand from advisers and clients, in response to fiscal changes in a particular country".
