*"Asia is no longer just an emerging market—it is the epicenter of wealth creation and intergenerational planning," remarked H.S.H. Prince Max von und zu Liechtenstein, Chairman of LGT Group. "Our expansion here underscores our commitment to providing world-class solutions to Asia’s most discerning families."*
In a decisive move to bolster its foothold in one of the world’s fastest-growing wealth markets, LGT Private Bank has announced the establishment of a dedicated family office hub in Singapore. This strategic initiative is part of the Liechtenstein-based private banking and wealth management group’s broader effort to cater to the increasing demand for bespoke family governance, succession planning, and global asset diversification in Asia.
Singapore, already a preferred destination for high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) seeking financial stability and favorable regulatory frameworks, is witnessing an unprecedented influx of family offices. According to Singapore's Economic Development Board, the number of family offices in the city-state has grown from around 400 in 2020 to over 1,500 in 2023. Recognizing this exponential rise, LGT aims to position itself as the go-to partner for Asian families looking to preserve and grow their wealth across generations.
Founded in 1920 and wholly owned by the Princely House of Liechtenstein, LGT is one of the world’s leading private banks with a long-standing tradition of serving entrepreneurial families. The bank’s Singapore hub will focus on delivering tailored solutions that integrate investment management, estate structuring, philanthropy advisory, and international residency planning. It will also act as a bridge for Asian clients seeking access to European and North American markets, leveraging LGT’s deep expertise and global network.
Industry insiders view this move as both timely and strategic. With tightening regulations in traditional wealth havens and growing scrutiny on tax transparency, Asian families are increasingly looking for institutions that combine local expertise with a global perspective. LGT’s reputation for discretion, stability, and a client-centric approach aligns seamlessly with these expectations.
*"The next generation of wealth holders in Asia is markedly different," noted Michael Lim, LGT’s Head of Private Banking Asia. "They are global citizens with multifaceted priorities—from impact investing to sustainable succession planning. Our role is to not just manage their wealth but to help them define their legacy."*
The Singapore hub will also prioritize client education, offering exclusive programs and forums for family members to deepen their understanding of wealth stewardship. This reflects a growing trend among family offices worldwide: investing in knowledge transfer to ensure seamless transitions in leadership and decision-making.
As global economic uncertainties persist, the demand for robust wealth management strategies continues to rise. LGT’s expansion into Singapore is a testament to the region’s importance in the global financial ecosystem. With the launch of this dedicated family office hub, the bank is poised to solidify its position as a trusted partner for Asia’s most influential families.
In a rapidly evolving wealth management landscape, where challenges and opportunities abound, LGT’s move underscores the enduring relevance of personalized, relationship-driven advisory services. For Asian families navigating their financial futures, the Singapore hub is not just a facility—it is a gateway to enduring prosperity.
(Editors: admin)