“We are deeply committed to Asia as a cornerstone of our global growth strategy,” commented Dr. Henri Leimer, CEO of LGT Private Banking Asia. “This acquisition reflects not only our confidence in the region’s economic potential but also our dedication to serving the sophisticated needs of high-net-worth clients in Asia.”
LGT Private Banking, the Liechtenstein-based financial powerhouse owned by the Princely House of Liechtenstein, has announced its acquisition of a boutique wealth management firm in Singapore, marking a major step in its ambitious expansion across Asia. The deal, finalized earlier this week, underscores LGT’s strategic push into a region that is rapidly emerging as a global center for wealth creation.
The newly acquired firm, which specializes in multi-generational wealth planning and investment advisory services, adds significant depth to LGT’s offerings in Singapore. With a client base composed largely of ultra-high-net-worth individuals (UHNWIs) and family offices, the firm aligns seamlessly with LGT’s existing focus on tailored financial solutions. This move not only bolsters LGT’s presence in Singapore—a jurisdiction already known for its robust regulatory framework and appeal to international investors—but also signals its intent to challenge larger competitors in the region’s wealth management sector.
This acquisition comes at a time when Asia’s wealth management industry is undergoing a transformation. According to the latest Capgemini World Wealth Report, Asia-Pacific now leads the world in both the number of high-net-worth individuals and their cumulative wealth. Singapore, in particular, has become a magnet for family offices, thanks to its tax incentives, political stability, and strategic location within the region. For LGT, the timing could not have been more opportune.
“Our clients in Asia are increasingly seeking sophisticated solutions that go beyond mere asset management,” Dr. Leimer added. “They are looking for partners who can navigate complex family dynamics, cross-border taxation issues, and global investment opportunities. With this acquisition, we are better positioned than ever to meet those needs.”
The integration process is expected to be seamless, as both firms share a commitment to personalized client service and a long-term investment philosophy. Key personnel from the acquired firm will join LGT’s Singapore office, ensuring continuity for existing clients while enhancing the group's overall capabilities.
LGT’s expansion in Asia is not without precedent. Over the past decade, the bank has steadily increased its footprint in the region, establishing offices in Hong Kong, Bangkok, and Tokyo while strengthening its expertise in areas such as sustainable investing and philanthropy advisory. The Singapore acquisition is expected to act as a springboard for further growth, particularly as more Asian entrepreneurs and families seek global diversification for their wealth.
As the wealth management landscape in Asia becomes increasingly competitive, LGT’s move highlights the importance of agility and specialization. By focusing on a boutique approach rather than a one-size-fits-all model, the bank is betting that its combination of heritage, expertise, and local knowledge will resonate with Asia’s discerning clientele.
In closing, LGT’s foray into Singapore reflects a broader trend: the convergence of global expertise and local insights in shaping the future of wealth management. For high-net-worth individuals and family offices in Asia, the entry of established players like LGT offers not just more options but also a higher standard of service. As the region continues to redefine wealth management on a global scale, LGT appears well-positioned to lead the charge.
(Editors: admin)