*"As wealth becomes increasingly globalized, our clients demand localized expertise paired with global reach. Singapore is the natural next step,"* remarked H.S.H. Prince Max von und zu Liechtenstein, CEO of LGT Group, as the company unveiled its latest strategic initiative: the establishment of a dedicated family office hub in Singapore.
LGT Group, one of the world’s leading private banking and asset management firms, has announced its ambitious expansion into Asia’s wealth management epicenter by launching a bespoke family office platform tailored to ultra-high-net-worth individuals (UHNWIs) and multi-generational families. The move underscores the Liechtenstein-based financial powerhouse’s commitment to capturing the growing demand for sophisticated wealth structuring and legacy planning services in the region.
The new hub, located in Singapore’s Marina Bay Financial Centre, is designed to cater to the nuanced needs of Asia’s booming UHNWI population. According to a recent Capgemini World Wealth Report, the Asia-Pacific region surpassed North America in 2022 as the region with the highest number of UHNWIs globally. Singapore’s stable regulatory environment, robust legal framework, and reputation as a premier financial hub make it an increasingly attractive jurisdiction for wealth management and family office operations.
LGT’s Singapore family office hub will offer a comprehensive suite of services, including bespoke investment management, estate and succession planning, tax structuring, and guidance on international residency programs. The initiative also seeks to bridge cultural and geographical divides by providing seamless coordination between LGT’s European expertise and the unique financial dynamics of its Asian clientele.
This expansion is not LGT’s first foray into the Asian market. The bank has been steadily growing its presence in the region, with offices in Hong Kong, Tokyo, and Bangkok. However, the family office hub represents a significant leap forward, as it signals a deeper commitment to serving a clientele with increasingly sophisticated and intergenerational needs.
*"Our Asian clients are no longer simply looking for investment portfolios or banking services,"* noted Dr. André Lagger, CEO of LGT Private Banking. *"They are seeking holistic solutions that address the complexities of managing transnational wealth and safeguarding legacies for future generations. Singapore offers the perfect confluence of trust, stability, and opportunity to meet these demands."*
The timing of the announcement aligns with Singapore’s ongoing push to cement itself as the go-to jurisdiction for family offices. In 2022 alone, the city-state reported a 50% increase in the number of family offices established, driven in part by favorable tax incentives under the Monetary Authority of Singapore’s (MAS) Section 13O and 13U schemes. LGT’s move is expected to further accelerate this trend, bringing with it not only significant foreign capital inflows but also the potential for knowledge sharing and innovation.
As global wealth becomes more mobile and geopolitical uncertainties reshape traditional financial strategies, LGT’s Singapore hub represents a forward-thinking approach to navigating these shifts. The decision to anchor its family office services in Asia is as much a reflection of the region’s wealth trajectory as it is of the bank’s long-term vision.
In an era where the preservation and growth of wealth transcend borders, LGT Group’s strategic expansion serves as a reminder of the importance of blending global expertise with local insights. For many UHNWIs and their families, the new Singapore hub offers not just a financial solution, but a bridge to a more secure and interconnected future.
(Editors: admin)