Under the terms of the agreement, KBL epb will leverage Lombard Odier’s existing processes and G2 platform, adapted to the specific needs of the Luxembourg-headquartered private banking group.

In line with that partnership approach, Lombard Odier will establish a new company in the Grand Duchy – staffed by select KBL epb specialists and Lombard Odier employees – to provide KBL epb with best-in-class IT and Operations solutions, hosted on a cutting-edge external platform. That company will reach full operational status in the course of next year, in line with overall project development.

“The signing of this agreement is a game-changing event for our group,” said Yves Stein, Group CEO, KBL epb. “Moving forward, we will be much better equipped to respond to rapidly evolving client needs, enhancing our ability to meet those requirements in a more international environment.

“Consequently,” Stein added, “our group will be even more strongly positioned to achieve accelerated external growth – backed by a provider with a proven track record, pan-European presence and local awareness.”

“We are delighted to roll out the next evolution of our IT platform in partnership with KBL epb,” said Alain Picquet, Co-Head of Technology and Banking Infrastructure at Lombard Odier. “We look forward to working closely with KBL epb’s specialist staff as we continue to extend our processes and platform, reinforcing their IT and Operations activities in the years to come.”

Highlighting that the signing of this agreement followed months of in-depth discussions, Marc Lauwers, Group Chief Operating Officer, KBL epb, said: “This partnership is not simply a back-office initiative. It is an integral element of a group-wide transformation process that will support the realization of our strategic objectives, including enhancing the way we serve our clients and strengthening the ties that bind us as a pan-European group.”

Emphasizing the multi-year nature of this major project, he noted that it would have no material impact on employment at KBL epb in Luxembourg before 2017.

Lauwers added that Lombard Odier has made a firm commitment to extend to a significant number of current KBL epb specialists the opportunity to serve at the new company that will be established in the Grand Duchy. “Our ambition is to ensure full employment for the balance of Luxembourg-based staff impacted by this agreement,” he said, “including through an increased focus on training and internal mobility.”

Indeed, in addition to a range of ongoing, group-wide initiatives, KBL epb will double its professional training budget over the next three years and substantially increase the size of its HR department over the same period.

“We are focused on providing our HNWI clients with proximity, agility and personalized service,” said Lauwers, “and are equally committed to supporting the development of all our people. Through this partnership agreement and the complementary actions we are taking, we will continue to achieve both of those important goals.”