LGT Expands to Thailand
The firm's Bangkok office will cater to high net worth investors and complement LGT's existing private banking efforts in Hong Kong and Singapore.
LGT, the largest private banking and asset management group in the world that is wholly-owned by an entrepreneurial family, has opened a wealth management office in Bangkok, Thailand, the firm said in a press release on Thursday.
The firm's Thai subsidiary will be known as LGT Securities (Thailand). LGT said that a team of investment consultants and investment planners will provide investment and wealth management services to Thai clients from the Bangkok office.
«We see Thailand as an important growth market, and the establishment of an onshore presence reflects our ambition to continue our growth path in Asia,» CEO H.S.H. Prince Max von und zu Liechtenstein said about the new office.
«Rapidly Growing Market»
«We have recorded very pleasing growth in recent years in the region and significantly increased our assets under management. Thailand is a rapidly growing market with extremely interesting opportunities. With our local presence in Bangkok, we can now advise and support our Thai customers even better on-the-ground,» Henri Leimer, CEO LGT Private Banking Asia, said.
Based in Vaduz, Lichtenstein, LGT has been managed by the Princely House of Liechtenstein for over 80 years.
As of mid-2018, LGT had $207.5 billion in assets under management. In Asia, LGT is ranked the 12th largest private bank, with over $60 billion assets under management.
