LGT has hired a managing director for its Hong Kong market as the Liechtenstein-headquartered private bank continues to beef up its APAC team. Eric Cheung arrived at the bank in August as managing director, people close to the matter told Asian Private Banker.  Before LGT, he was executive director at Julius Baer for over seven years. Cheung also worked at […]

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LGT on Thursday announced the opening of a wealth management branch in Japan, after having obtained regulatory approval. The office of LGT Wealth Management Trust Inc. (LGT Japan) is located at the Okura Prestige Tower in Tokyo and has a staff of over 35 to provide bespoke wealth management solutions to HNWIs and family-owned businesses in Japan. Yoshitaka Nagakura, who […]

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LGT has opened the doors to its Thailand operations, following months of industry speculation over the pure play’s ambitions in the red-hot Southeast Asian market. That included just what form LGT’s go-to market strategy would take and who would receive the official seal of approval to oversee the setup. Those questions were answered today when the bank announced it had […]

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LGT has partially credited its acquisition of ABN AMRO’s Asian and Middle Eastern private banking businesses last year to the pure play’s significantly higher revenues and profits in the first half of 2018. “Last year, we successfully completed the integration of ABN AMRO’s private banking business in Asia and the Middle East,” Dr Henri Leimer, CEO of LGT Private Banking Asia, […]

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The rank and file of former ABN AMRO relationship managers who joined LGT’s Hong Kong office as part of its acquisition of ABN’s private banking business in Asia and the Middle East is thinner than ever following recent layoffs and resignations. Insiders have told Asian Private Banker on the condition of anonymity that the number of Hong Kong-based ex-ABN relationship managers […]

The post LGT’s ex-ABN banker population in HK has almost halved amid strong business momentum appeared first on Asian Private Banker.

LGT’s recent spree of acquisitions added CHF 18 billion to its global, pushing group AUM past the CHF 200 billion mark at the end of 2017. The Liechtensteinian private banking and asset management firm rounded out the year with CHF 201.8 billion in AUM, up 32.7% YoY, with net new asset inflows contributing some CHF 17.7 — an annualised increase […]

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LGT said today its global assets under management (AUM) grew by 19% in the first half of 2017 to CHF 181 billion, thanks in part to the “strategically important” acquisition of ABN AMRO’s private banking business in Asia and the Middle East. Of the CHF 28.9 billion rise in AUM, CHF 18.2 billion (or 63%) stemmed from from the ABN […]

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ABN AMRO’s second quarter profits were buoyed by a book gain of €200 million from the sale of its private banking operations in Asia to LGT, according to a statement from the Dutch lender’s CEO. Kees van Dijkhuizen said ABN AMRO posted a net profit of €960 million, thanks in part to the divestment in Asia and the refinement of […]

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LGT managed to tick off a lot of boxes in just five months, including the speedy acquisition and data migration of ABN AMRO’s private banking businesses in Hong Kong, Singapore, and the Middle East, and the rollout of a client-facing app. In an exclusive interview with Asian Private Banker, Asia CEO Henri Leimer discusses the lead-up to the ABN AMRO deal, […]

The post LGT’s Henri Leimer: “I was in favour of the acquisition” appeared first on Asian Private Banker.

It’s not just a searing summer in Hong Kong that has inspired this column – we have been ranking banks and bankers for some years now, but a recent list that focused on the aesthetic appeal of private bankers made me laugh out loud. I must confess, I would not have been able to come up with a similar list […]

The post The Scoop with Shruti Advani: What’s hot, what’s not appeared first on Asian Private Banker.

The technology revolution continues to sweep through Asia’s private banking industry as LGT creates and fills a new head of IT for Asia role. Markus Weidmann is the bank’s new head of IT for Asia. He reports to LGT Asia CEO Henri Leimer. Weidmann is now based in Hong Kong and will oversee the Asia operations while all processes are […]

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Things at LGT generally run very smoothly and, as a result, there isn’t much that keeps me up at night on a day-to-day basis. That being said, it is unavoidable, in this globalised business environment that I am occasionally kept awake by jet lag.  One of the challenges of managing an international business is the inevitable need to travel to distant time […]

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