Lombard Odier has formed a strategic partnership with UnionBank, the Philippines’ seventh-largest bank, in order to expand the Geneva-based firm’s Asia footprint.

Under the terms of the deal, UnionBank onshore private clients will gain access to Lombard Odier’s investment solutions, while supporting UnionBank in efforts to develop its own private banking arm and wealth planning services.

As part of the agreement, the pair will launch a global and diversified multi-asset fund with a risk profile matching UnionBank’s specific needs for its high-net-worth and ultra-high-net-worth clients.

Lombard Odier has undertaken several of these partnerships in order to expand its Asian business in recent years.  A similar partnership with Kasikornbank in Thailand was announced in December 2014 following agreements with financial firms in mainland China, Japan, South Korea and Australia.

“Today’s agreement allows Lombard Odier to offer UnionBank’s onshore private clients in the Philippines access to best-in-class global investment solutions for the first time,” said Vincent Magnenat, Lombard Odier’s head of private banking in the Asia Pacific.