Lombard International, a provider of wealth structuring solutions for high net worth investors, has reported new business premiums of EUR4.5 billion for 2016, a new record for the company.
Total assets under administration (AUA) grew to EUR77.5 billion (as of 31 December 2016), an increase of EUR5.5 billion or 8 per cent from EUR72.0 billion in the prior year.
High net worth AUA totalled EUR40.5 billion (as of 31 December 2016), an increase of EUR5.0 billion or 14 per cent from EUR35.5 billion in the prior year.
Corporate administration AUA totalled EUR37.0 billion (as of 31 Dec 2016), an increase of EUR0.5 billion or 2 per cent from EUR36.5 billion in the prior year.
Several senior management hires were made in the period notably Axel Hörger, Michael Gordon and Tammy Lu Tsui to lead the businesses in Europe, the US and Asia respectively. These appointments are in addition to a number of senior appointments in sales, technology, marketing and communications roles, all of which combine to boost the group’s capabilities and total headcount to approximately 600 employees worldwide.
The company also invested in digital innovation and transformation throughout 2016, introducing Connect (an online digital servicing platform in Europe) and an online investment platform in the US. The development and launch of these new technology solutions positions Lombard International at the forefront of the industry, creating value for clients and partners alike.
John Hillman, executive chairman of Lombard International, says: “Over the last 25 years, we have been delivering against our stated aim of being the leading wealth structuring provider across Europe, the US, Asia and Latin America. The group’s impressive geographical and financial growth in 2016 gives me confidence that we are now even better placed to deliver on this strategy and to provide best in class solutions to high net worth clients around the globe.
“Our investment into expanding our management team, to boosting product capabilities and to launching new technology platforms has meant that the business is now even more closely aligned to our clients’ interests and is well positioned to deliver comprehensive services that most proficiently meet their needs for the years ahead.”