"We see Asia not just as a growth market, but as a hub of innovation and opportunity for global wealth management," said H.S.H. Prince Max von und zu Liechtenstein, Chairman of LGT Group, as the princely-owned private bank announced its acquisition of a majority stake in a boutique wealth management firm in Singapore. The move signals LGT Bank’s deepening commitment to Asia’s high-net-worth and ultra-high-net-worth clientele, a move that aligns with the region’s growing prominence in global wealth creation.
The acquisition, valued at an undisclosed sum, will see LGT integrate the Singaporean firm’s bespoke advisory services into its own private banking platform. This marks the Liechtenstein-based institution’s latest step in its ambitious expansion strategy across Asia, following the opening of offices in Hong Kong and Thailand in recent years. With assets under management exceeding $300 billion, LGT Bank has been steadily positioning itself as a leading player in providing tailored banking and wealth solutions for affluent families and institutional investors.
Asia has rapidly emerged as a critical battleground for wealth management firms seeking to court the world’s growing pool of high-net-worth individuals (HNWIs). According to the latest Capgemini World Wealth Report, Asia-Pacific now accounts for 39% of the global HNWI population, with Singapore and Hong Kong serving as key hubs for private wealth structuring. By leveraging its new Singaporean foothold, LGT aims to offer clients a seamless blend of local expertise and its global investment capabilities.
"This acquisition is not just about scale," explained Roland Schubert, CEO of LGT Bank Asia. "It’s about enhancing how we connect with clients in the region by offering them a combination of global reach, local knowledge, and a family-driven approach that resonates deeply in this market." Schubert stressed that Singapore, with its robust regulatory environment and reputation for financial sophistication, remains a cornerstone of LGT’s Asian strategy.
The acquisition is also expected to accelerate LGT’s efforts in sustainable investing, an area where the bank has been a pioneer. By incorporating ESG-focused advisory services into its expanded operations, LGT is positioning itself to meet the growing demand among Asian HNWIs for socially responsible and impact-driven investment opportunities. This move aligns with broader trends in wealth management, as clients increasingly seek to align their portfolios with their values.
The integration process is anticipated to conclude by mid-2024, subject to regulatory approval. For clients, the transition promises continuity, as the boutique wealth manager’s leadership team will remain in place, ensuring personalized service while benefiting from LGT’s broader resources and expertise.
As Asia continues to redefine the landscape of global wealth, LGT Bank’s calculated moves underscore the importance of adaptability and long-term vision in an evolving market. With this acquisition, the bank is not merely solidifying its position in the region—it’s setting the stage for its next chapter of growth.
(Editors: admin)