Offshore, advisory banking won’t last in Asia: Lombard Odier CIO

The dominant wealth management model in Asia – offshore private banking using an advisory model – will not last, argues Jean-Louis Nakamura, chief investment officer at Swiss bank Lombard Odier. The advisory or transaction approach, where bankers help clients trade their portfolios, is more prevalent in Asia than elsewhere, he noted. "This model requires huge manpower; obviously, we do not have the resources to compete with the big banks." However, this approach is unlikely to l…