LGT: Asia and Middle East Assets Triple in Five Years

LGT: Asia and Middle East Assets Triple in Five Years

Liechtenstein-based private bank LGT highlighted continued growth in Asia and the Middle East, making the rare move of unveiling its assets under management in the region.

In Asia and the Middle East, assets under management at LGT’s private banking arm tripled in the last five years to 76 billion Swiss francs ($83 billion) as of the first half, according to its latest results.

This represents more than one-third of its over 200 billion Swiss francs worldwide – a new all-time high after a 14 percent year-on-year increase.

In addition to client assets, the two regions were also key beneficiaries of the group’s investments with headcount doubling in the same five-year period.

Derivatives Trading

In the first half, Asia was also a key income generator especially in derivatives trading which was offset by foreign currency hedging.

Globally, LGT posted a total operating income of 953.4 million Swiss francs (6 percent increase) on operating expenses of 690.2 million Swiss francs (12 percent increase). 

«Building on the strong growth of the recent past, we have once again delivered very good first-half results in the year of our 100th anniversary,» said LGT chairman H.S.H. Prince Max von und zu Liechtenstein.