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LGT opens wealth management office in Thailand for high networth investors

PC Lee

(Feb 21): LGT, the international private banking and asset management group owned by the Princely House of Liechtenstein, has opened its wealth management business in Thailand.

Located in downtown Bangkok, the international private banking and asset management group will offer a unique set of investment and wealth management services to high net worth individuals and corporates in the country.

HSH Prince Max von und zu Liechtenstein, CEO of LGT, says, “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.”

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Headquartered in Vaduz, Liechtenstein, LGT manages assets of up to US$207.5 billion ($280.6 billion) on behalf of wealthy private individuals and institutional clients, as of mid 2018. It is also the 12th largest private bank in Asia with over US$60 billion assets under management.

LGT’s subsidiary in Thailand will be known as LGT Securities (Thailand). 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.

Henri Leimer, CEO LGT Private Banking Asia, says, “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.