*"In the evolving world of global wealth management, proximity to clients is not just a strategy—it’s a necessity," said Dr. H.S.H. Prince Max von und zu Liechtenstein, CEO of LGT Group, as he reflected on the company’s latest acquisition in Asia. "Singapore is not only a pivotal financial hub but also a gateway to the burgeoning wealth of Southeast Asia."*
LGT Private Banking, the Liechtenstein-based banking group owned by the Princely House of Liechtenstein, has announced its acquisition of a majority stake in a boutique wealth management firm headquartered in Singapore. The move is part of LGT’s ongoing strategy to strengthen its presence in Asia, a region that continues to see exponential growth in private wealth. The deal, which remains subject to regulatory approval, underscores the institution’s long-term commitment to serving high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) in one of the world’s most dynamic financial markets.
This acquisition marks a significant milestone for LGT, which has been steadily expanding its Asian operations over the past decade. The bank, which has assets under management exceeding $300 billion, has identified Singapore as a linchpin in its strategy to capture the region’s swelling pool of affluent families, entrepreneurs, and institutional investors. According to industry reports, the number of HNWIs in Asia has surpassed that of North America, with Singapore emerging as a preferred destination for wealth management due to its robust regulatory framework, political stability, and tax-friendly environment.
The newly acquired firm, whose name has yet to be disclosed publicly, specializes in bespoke investment solutions and estate planning for UHNWIs in Southeast Asia. Its integration into LGT’s global network is expected to bring a new dimension of services to the bank’s regional clientele, including access to its sustainable investment offerings and family office advisory services. The move also highlights a growing trend among European private banks to deepen their stakes in Asia amid increasing competition from local and international players.
*"This partnership is more than just a business decision—it’s about aligning values," said Dr. Henri Leimer, CEO of LGT Private Banking Asia. "The firm we are bringing into the fold shares our commitment to client-centricity, discretion, and long-term value creation, which are the hallmarks of LGT’s approach to wealth management."*
For LGT, the acquisition is not merely a play for market share but also a testament to its confidence in Singapore as a hub for global wealth flows. The city-state has seen a surge in family offices over the past five years, with estimates suggesting that more than 1,500 such entities are now operational. This growth has been fueled by an influx of wealthy individuals from China, India, and Southeast Asia, as well as global investors seeking stability amid geopolitical uncertainties. By bolstering its capabilities in Singapore, LGT positions itself to cater to these sophisticated clients with complex cross-border financial needs.
The deal also signals a broader trend in the private banking industry, where institutions are increasingly looking beyond traditional financial services to capture the loyalty of next-generation wealth holders. In Asia, where wealth is often concentrated in family-owned businesses, services such as succession planning, philanthropy advisory, and impact investing have become critical differentiators. LGT’s ability to combine these offerings with its heritage as a royal banking institution gives it a unique advantage in a crowded marketplace.
As the deal moves toward regulatory approval, industry observers are keenly watching how LGT leverages its expanded footprint in Singapore. The acquisition not only strengthens its presence in Asia but also reinforces its reputation as a forward-looking institution that adapts to the shifting sands of global wealth management.
In a rapidly evolving financial landscape, where the lines between traditional banking and holistic wealth advisory continue to blur, LGT’s move serves as a reminder that adaptability and strategic foresight remain key to success.
(Editors: admin)