India, Germany in focus of LGT business development

LTG - the business offering private banking, wealth management and asset management that has been managed by the Princely Family of Liechtenstein for over 90 years - has announced developments in both the Indian wealth management and German private banking markets.

LGT Wealth India, which is majority owned by LGT Group, follows in the footsteps of other office openings in Asia and the Middle East - Hong Kong in 1986, Singapore in 2001, Dubai in 2012, and Thailand in 2019. LGT Wealth India already has some 200 staff and a presence in 14 cities across the country, with headquarters in Mumbai.

Atul Singh, the managing director & CEO of LGT Wealth India, said: "The plan is simple: put our clients first by providing a transparent service designed around what is right for them. We have attracted some of the industry stalwarts and best talent, drawing together in-depth experience across multiple asset classes."

Germany

In the Europe region, LGT Private Banking is opening a new office in Hamburg, to build the business in northern Germany through a team of some 15 financial professionals.

Clients in Germany will have access to the entire range of LGT products and services, including: advisory and portfolio management, wealth planning, international real estate financing, impact investments, alternative investments such as private equity, and dedicated philanthropy advisory services.

Clients in Germany will also have the possibility to invest in the Princely Strategy alongside the Princely Family of Liechtenstein.

H.S.H. Prince Max von und zu Liechtenstein, chairman LGT, said: "Germany is one of the largest private banking markets in Europe. It is therefore logical for us to be present there. Having locations in Germany will enable us to advise our clients locally. It also means that qualified and committed relationship managers in the German market will have the opportunity to work for a highly successful, leading international private bank. Thanks to our long-standing experience in managing significant assets and our services, especially in the area of private markets, sustainable investments and UHNWI services, our clients in Germany will have access to a unique offering."

The German subsidiary will be led by Florian Dürselen, a member of the executive board and head Private Banking at LGT Bank. Andreas Loretz, the long-standing department head Germany/Austria at LGT Bank, will be responsible for the operational management of the client business.

The subsidiary of LGT Bank Ltd. will be headquartered in Munich, and following the establishment of operations in Hamburg, the private bank will seek to build business in central and southern Germany. Other locations besides Hamburg and Munich are being considered, LGT added.