Lombard Odier’s goal of increasing assets under management in North Asia by double-digit percentages in 2026 is “ahead of schedule”, said Hong Kong CEO Alfred Low in an interview, citing drivers including the semiconductor boom in Taiwan.
Geneva-based pure-play Lombard Odier has been positioning itself to capitalise on rapid wealth creation in Asia with investment in talent as well as technology. In an interview with Global Private Banker, Hong Kong CEO Alfred Low spoke about the bank’s 2026 goal of achieving double-digit growth in assets under management (AUM) in North Asia.
“We are now past the mid-year mark and I’m happy to say we are ahead of schedule. The number of newly opened accounts has already exceeded that of 2025,” said Low, who is also the head of North Asia markets.
IPOs and semiconductor boom
According to Low, there are few notable growth drivers, particularly from Greater China. One major source has been liquidity events in Hong Kong with 119 IPOs in 2025 and over 100 new listings in the first eight months of 2026. Taiwan has been another vital source, not only from the artificial intelligence (AI) and semiconductor boom but also due to growth from so-called “picks and shovels” involved in the ecosystem, such as demand in the steel industry to build data centres.
“In the longer term, we are aiming for multifold growth in net new money,” added Low, who joined Lombard Odier in August 2025.
In the first half of 2026, AUM at Lombard Odier reached a record high of CHF 239 billion (USD 287 billion), according to its financial results, up 7% compared to end-2025. The bank does not disclose regional breakdowns.
DPM penetration exceeds one-third
When it comes to investing, Asian high net worth individuals have been traditionally known for being active, hands-on traders. While Low admits that this opportunistic and tactical nature has not “entirely disappeared”, particularly in Hong Kong, there is concurrently a move towards a more institutional approach with broad diversification and rigorous risk management.
“This bodes well for discretionary portfolio management where our penetration rate of assets in North Asia is north of one-third,” he shared.
“Alternatives have also garnered more and more interest. We see demand for hedge funds in market neutral and long-short strategies. Private markets are also important and we provide access not only through secondaries but even earlier phase venture-like investments.”
AI capabilities for relationship managers and clients
With AI being all the rage across industries, Lombard Odier has been no exception in deploying the rapidly emerging technology. In this area, Low highlighted two key areas where the bank has worked on leveraging AI over the last 12 months.
“First, our relationship managers are able to use AI to extract content from our huge dossier, such as the house view on specific markets. Secondly, we are also able to curate content for clients to directly access through our ‘My LO’ mobile app,” he said.
230 years with no external debt
Despite the positive developments, Low noted that the macro environment has become increasingly uncertain and he highlighted that Lombard Odier was well-positioned to withstand potential turbulence due to a history of financial self-reliance.
“Next year is our 40th anniversary in Hong Kong. I’m proud to say that Lombard Odier has grown over the last 230 years without any external debt. That is very important in a world where the balance sheets of governments are very weak because if the next major financial crisis should occur, stability will be key,” he remarked.
“This stability extends beyond our financial health to our talent. In North Asia, the median tenure of our team is more than 10 years and the average banker has over 20 years of experience.”
