Swiss private bank Lombard Odier executives have stressed that the Middle East is no more inherently risky than other global markets—but warned that wealth managers must perform rigorous due diligence to avoid regulatory pitfalls in future. The bank is increasing its investment in the region and is aiming to more than double its assets under management there.
Frédéric Rochat, managing partner at Lombard Odier, and Ali Janoudi, head of new markets, state that wealth managers should treat the Middle East like any other jurisdiction: “do proper diligence on clients to avoid regulatory hassle at a later stage,” as Janoudi put it, emphasising that issues of compliance, transparency and client onboarding are just as critical in Gulf markets as in Switzerland or Europe.
Lombard Odier has identified the Middle East as one of its fastest-growing markets. The bank is directing significant resources toward expanding its presence, including plans to increase headcount, strengthen its local expertise in wealth structuring, and deepen regional client relationships. One focus is on ultra-high-net-worth individuals and entrepreneurial families in the UAE, Saudi Arabia, Kuwait and Qatar, who are seeking to diversify their assets in sustainable investments, private assets and impact-driven portfolios.
Executives highlight that growth is being driven not just by rising wealth in oil exporting nations but also by economic reform, regulatory openness, and initiatives to attract foreign investors. The bank’s surveys show that many international clients relocating to the region are drawn by favourable tax regimes, quality of life, infrastructure, and increasingly, the sophistication of local financial services. At the same time, Amer Malik, Senior Executive Officer of Lombard Odier Middle East in DIFC, points out that understanding the diversity of regulatory, legal and tax environments across jurisdictions in the region is crucial: what works in Dubai may not work in Riyadh or Doha in exactly the same way.
Regulators in the Gulf Cooperation Council have increased scrutiny of financial flows, beneficial ownership, anti-money laundering controls, and tax disclosure. Lombard Odier says adherence to global standards such as the Financial Action Task Force recommendations, transparency initiatives, and cross-border reporting regimes are areas where wealth managers must invest in internal compliance systems.
On the upside, demand for private assets—such as infrastructure, technology, clean energy and digital infrastructure—is rising among Middle Eastern clients, with many seeking exposure beyond traditional equities and fixed income. Lombard Odier’s insight reports show that private assets are being viewed not only as sources of higher returns but also as buffers against macro volatility. Such allocations, however, come with challenges: valuing illiquid assets, managing exit risk, and maintaining governance standards across borders.
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