The partnership will allow clients of JBWere, which is 80.1 per cent owned by National Australia Bank and 19.9 per cent backed by Goldman Sachs, to trade internationally across a range of asset classes and access FX hedging, custody and reporting. JBWere has A$13 billion in funds under management. 

Meanwhile Lombard Odier, the seventh generation family-owned bank, will benefit through being able to enter the Australian market through the domestic network base of JBWere.

JBWere chief executive Paul Heath said that the move would help the firm’s clients diversify their portfolio.

“In Australia, more than 70 per cent of the equity market is made up of materials, energy and financial services companies. We believe Australian private investors need more diversification if they are to reduce risk in their portfolio and maximise the opportunities in the current market,” he said.

“This partnership also gives our clients access to leading global research, investment options and execution across various markets and asset classes, all tailored to complement their existing portfolios.

“Australia’s pool of affluent individuals is growing and the demand for wealth managers to provide specific expert advice will continue to rise, so we are coupling Lombard Odier’s international reach and innovative range of wealth management solutions with JBWere’s established presence on the ground,” said Vincent Duhamel, head of Asia-Pacific and Japan for Lombard Odier.

The service is available to investors with A$1 million and above to invest.

Established in 1796, Lombard Odier Darier Hentsch has more than SFr145 billion in assets under management and 1,800 employees as of December 2011.

The move is reminiscent of the partnership between Switzerland's Julius Baer and Australian bank Macquarie, announced last October. Julius Baer absorbed Macquarie's Asian private client business to gain about $1 billion in assets, and is now able to refer clients looking for investment banking services to Macquarie.