LGT Hires From DBS in Singapore

LGT Bank

LGT Bank

Liechtenstein headquartered LGT Bank has continued its hiring momentum in Asia with the appointment of an additional Equity Advisor to its Singapore business, finews.asia can reveal.

Pey Herng Yap joined the bank earlier this month as Director, Equity Advisor. Prior to joining LGT Yap was Director, Product Advisory and Structuring (Equities) with DBS Private Bank.

LGT Bank has been adding to its Asian units in Hong Kong and Singapore this year and recently recruited prominent former HSBC banker Michael Hua, as finews.asia reported.

New Asian Hires

LGT had a first-half profit of 124.4 million Swiss francs, 5 percent less than in the same period a year earlier, revenues rose however by 5 percent, to 576.3 million.

The main factor behind the decline in profitability at the Vaduz-based bank were higher costs. New staff hires in Asia and asset management led to a 5 percent increase in personnel costs, totaling 315.3 million in the first half. Business and office expenses rose 23 percent to 101.7 million, reflecting the bank's expansionary strategy.

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.