Partnerships, which continue to flourish in Asia, are ways for firms to obtain market reach and expertise without having to build it from scratch.

Swiss private bank Lombard Odier and Australian private bank JBNWere have formed a strategic alliance, formalising a partnership that began 11 years ago.

The pact enables JBWere clients to have onshore access to Lombard Odier’s investment solutions, including multi-asset approaches, goal-based investing, sustainability strategies, family services expertise and access to private assets. In turn, JBWere’s Australian network will give the Swiss firm a chance to boost its Asia-Pacific market reach.

Partnerships, which continue to flourish in Asia, are ways for firms to obtain market reach and expertise without having to build it from scratch. For example, earlier in May, asset management house T Rowe Price and Standard Chartered in Singapore inked a six-month exclusive partnership to offer the US firm’s equity investment strategies to the bank’s retail customers. In another case, Schroder BOCOM Wealth Management Co, a partnership in China between UK-listed Schroders and Bank of Communications Wealth Management, held its formal opening ceremony this month, a few weeks after securing a regulatory green light to start business.

Geneva-based Lombard Odier is one of the largest non-listed Swiss private banks. JBWere is entirely owned by National Australia Bank and is part of NAB Private Wealth.