*"The exponential growth of wealth in Asia has created a distinct demand for tailored family office solutions," said H.S.H. Prince Max von und zu Liechtenstein, CEO of LGT. "Our mission is to bridge this gap by offering expertise that goes beyond wealth preservation to focus on long-term legacy planning."*
LGT Private Bank, a leading global provider of private banking and asset management services, has announced the strategic expansion of its family office offerings in Asia. With the region now home to the fastest-growing population of ultra-high-net-worth individuals (UHNWIs), the move underscores LGT’s commitment to serving the sophisticated needs of affluent families looking to structure their wealth across multiple generations. This expansion involves a significant bolstering of the firm’s regional advisory team, alongside the establishment of new service hubs in Hong Kong and Singapore.
The decision to enhance its presence in Asia comes as family offices in the region increasingly seek bespoke solutions to address the complexities of cross-border wealth management, succession planning, and tax optimization. According to a recent report by Campden Wealth, family offices in Asia are evolving rapidly, with 68% now actively engaged in direct investments—a stark contrast to the more traditional portfolios of their Western counterparts. By doubling down on its resources in Asia, LGT aims to provide clients with a more comprehensive suite of services, including governance structuring, philanthropic advisory, and alternative investments.
Founded in 1920 and owned by the Princely Family of Liechtenstein, LGT has long been synonymous with discretion and expertise in managing substantial private wealth. In Asia, the bank has steadily built its reputation over the past two decades, primarily through its private banking operations. However, the recent influx of first- and second-generation wealth creators has shifted the focus toward family office solutions, prompting LGT to adapt its approach. The newly expanded team in Asia includes seasoned professionals with backgrounds in tax law, multi-jurisdictional estate planning, and impact investing—areas that are increasingly critical for wealthy families navigating a complex global landscape.
*"What sets us apart is our ability to combine institutional rigor with the personal touch required for family dynamics,"* noted Olivier de Perregaux, LGT’s Asia CEO. *"We don’t merely manage assets; we help families articulate and execute their vision for future generations."*
The implications of this expansion are far-reaching. For one, it signals the growing maturity of the family office ecosystem in Asia, a market that has traditionally lagged behind Europe and North America in adopting formalized structures. Additionally, it reflects a broader trend of private banks pivoting toward advisory-driven models, as clients increasingly demand holistic solutions rather than transactional services. By enhancing its capabilities in Asia, LGT is positioning itself as a key player in a field that is becoming increasingly competitive, with global banks, independent advisors, and boutique firms all vying for a share of the region’s burgeoning wealth.
As LGT’s family office division begins its new chapter in Asia, the bank’s leadership remains keenly aware of the challenges ahead. From navigating divergent legal systems to addressing the cultural nuances of wealth stewardship, the path forward requires a nuanced understanding of the region’s intricacies. Yet, for LGT, the opportunity to help shape the legacies of some of Asia’s most prominent families is well worth the effort.
With its enhanced presence in Asia, LGT has taken a decisive step toward redefining what it means to manage wealth in a globalized world. This expansion not only highlights the bank’s adaptability but also its unwavering commitment to meeting the evolving needs of its clientele.
(Editors: admin)