LGT today announced the opening of its wealth management business in Thailand, following the successful award of regulatory approvals. Located in downtown Bangkok, LGT will offer a unique set of investment and wealth management services to high net worth individuals and corporates in the country.
Commenting on the announcement, H.S.H. Prince Max von und zu Liechtenstein, CEO LGT said, “We are delighted to start operations in Thailand and look forward to offering full-fledged wealth management services to high net worth individuals, their families and corporates here in Bangkok. We see Thailand as an important growth market, and the establishment of an onshore presence reflects our ambition to continue our growth path in Asia.”
Headquartered in Vaduz, Liechtenstein, LGT is the largest private banking and asset management group in the world that is wholly-owned by an entrepreneurial family, the Princely House of Liechtenstein. As per mid-2018, LGT managed assets valued at USD 207.5 billion on behalf of wealthy private individuals and institutional clients. In Asia, LGT is ranked the 12th largest Private Bank with over USD 60 billion assets under management.
H.S.H. Prince Max von und zu Liechtenstein added, “Our stable ownership structure, our international network, personal approach, as well as our advisors’ comprehensive experience in managing substantial family assets, is what distinguishes LGT. Our clients can invest like the Princely Family, and thus benefit from our investment expertise. This results in a natural alignment of interests between ourselves and our clients.”
LGT’s subsidiary in Thailand will be known as LGT Securities (Thailand) Limited. A team of investment consultants and investment planners will provide investment and wealth management services to Thai clients from the Bangkok office and complement LGT’s existing private banking efforts in Hong Kong and Singapore.
“The opening of our office in Bangkok is another strategic milestone for our steady development in Asia,” commented Henri Leimer, CEO LGT Private Banking Asia. “We have recorded very pleasing growth in recent years in the region and significantly increased our assets under management. Thailand is a rapidly growing market with extremely interesting opportunities. With our local presence in Bangkok, we can now advise and support our Thai customers even better on-the-ground.”
LGT's Thai market expansion is overseen by industry veteran Karn Karuhadej, who has close to 20 years’ experience in private banking. The local office in Thailand will be led by CEO, Ekkapob Makeguljai, a homegrown career banker who has over 16 years’ experience in financial services and wealth management. The team will consist of experienced local and international wealth managers.