In this series, Citywire France meets the heads of wealth management businesses to find out what sets them apart from their competitors, discover their ambitions for the future, and explore their outlook for the industry. In this edition, Citywire meets the Managing Director of Lombard Odier in France, Édouard de Saint Pierre, as he shares his insights and vision for the future of wealth management.
Could you tell us about an initiative your firm has run that is close to your heart?
It is essential to ensure that our front office teams are just as diverse as our clients. By that I mean diversity in gender, origin, and backstory.
In that spirit I am very proud of our partnership with ESCP and our commitment to the “Women in Finance” research programme, which aims to attract, retain, and promote female representation in finance.
Do you have a particular approach to the new generations in your teams and amongst your clients?
Lombard Odier has flourished for almost 230 years by being unconditionally dedicated to its investment expertise, independence, and values, and by constantly questioning what it does to ensure it meets the ever-changing needs of each new generation.
The new generations want to have a better understanding of their investments. They are keen to be more involved and more active
We operate on three levels. First, with our existing families and clients, we have developed a programme focused on getting the NextGen community engaged. The new generation often wants to meet its peers. We encourage and facilitate networking, so they can build up connections, share their concerns, experiences, and ideas, and even create business opportunities.
See also: Family businesses: transferring successfully to the next generation
We have developed a programme to train up the NextGen community. The new generations also want to have a better understanding of their investments. They are keen to be more involved, more active. For clients who are starting out in wealth management we offer personalised training with support from internal analysts who are specialists in macroeconomics, investment, and sustainability. We also bring in external people if necessary.
