Market view e Insights
LGT Private Banking today announced that it will introduce a new EMEA-wide governance structure for its activities in Liechtenstein, Switzerland, Austria and the Middle East, reflecting the company's growth in recent years. Region EMEA will be led by Roland Matt, who will also remain CEO of LGT Bank Liechtenstein.
Following the successful development of LGT's private banking activities from CHF 108 billion in assets under management (AuM) in 2016 to CHF 207 billion in 2021, the new regional EMEA structure will help LGT Private Banking manage further profitable growth more effectively.
Region EMEA (excl. LGT Wealth Management UK), combining CHF 109 billion in AuM as of end-2021, will strengthen region-wide collaboration, speed up decision-making and facilitate faster introduction of new initiatives in face of digitization and evolving client needs. It will also support alignment with the existing Region APAC as well as within LGT Private Banking overall.
Governance at group and market levels remains unchanged. The banks at the individual EMEA locations will continue to be managed by Heinrich Henckel (Switzerland), who will also remain a member of the LGT Private Banking Senior Management Board, as well as Meinhard Platzer (Austria) and Sebastian Goeres (Middle East).
Olivier de Perregaux, CEO of LGT Private Banking: "Our business has significantly increased in size and substance over the last several years, and the establishment of Region EMEA under the leadership of Roland Matt will help us to manage further profitable growth effectively. Paired with our entrepreneurial culture and strong client orientation, we are further solidifying our organization with this step."
The new setup will become effective as of 1 January 2023.