"We've always believed that Asia represents the future of wealth management, and our commitment here reflects that belief," said Dr. André Lagger, CEO of LGT Financial Services, during the official launch of the firm’s new Singapore office earlier this week. The move by LGT Private Banking, part of the Liechtenstein-based LGT Group, underscores the growing significance of Asia as a hub for wealth creation and preservation, driven by the region's burgeoning population of high-net-worth individuals (HNWIs) and family offices.
The new Singapore office is part of LGT Private Banking’s long-term strategy to deepen its presence in Asia, where it has already been operating successfully in Hong Kong for over four decades. Singapore, often seen as the "Switzerland of Asia," has emerged as a premier destination for wealth management due to its stable regulatory framework, strategic location, and advanced financial infrastructure. LGT’s expansion aligns with the city-state’s rising prominence in the global financial ecosystem, particularly as regional clients increasingly seek sophisticated solutions for estate planning, tax optimization, and multi-generational wealth transfer.
Founded by the Princely Family of Liechtenstein, LGT Group has historically been regarded as a bastion of stability and discretion in private banking. Its strong family ownership has allowed the institution to take a long-term view of wealth management, a philosophy that resonates strongly with Asia’s entrepreneurial families. The Singapore office will cater not only to regional HNWIs but also to institutional investors and global family offices seeking bespoke advisory services, investment solutions, and access to alternative asset classes.
The timing of this expansion is notable, as Singapore continues to attract ultra-wealthy families, many of whom are relocating assets and operations from traditional Western financial centers. This trend has been accelerated by geopolitical shifts, such as the tightening of regulatory scrutiny in Europe and the United States, as well as an increasingly complex global tax environment. By establishing a strong presence in Singapore, LGT positions itself to serve clients who are navigating these challenges while also seeking opportunities in Asia's dynamic markets.
"Singapore is uniquely positioned as a gateway to Southeast Asia's emerging economies and a bridge to the rest of the world," said Dr. Lagger during the launch event, emphasizing the strategic importance of the city-state in LGT’s global growth strategy. "Our clients are increasingly global in their outlook, and they require partners who can offer both local expertise and international reach. This office allows us to build deeper, more meaningful relationships with them."
The impact of LGT’s expansion extends beyond its immediate client base. Its entry into Singapore’s competitive private banking landscape signals confidence in the region's economic resilience and underscores a broader trend of European private banks seeking opportunities in Asia. This development is likely to spur further competition and innovation in the sector, benefiting clients with more tailored and diverse offerings.
As family offices and HNWIs across Asia face increasingly complex financial landscapes, LGT’s robust expertise in areas such as sustainable investing, philanthropy, and alternative assets sets it apart. With global wealth increasingly gravitating to Asia, the firm’s strategic pivot to Singapore appears both timely and prescient.
LGT’s expansion into Singapore not only reinforces its commitment to Asia’s wealthy but also highlights the city-state's growing role as a cornerstone of global financial activity. For a firm steeped in history, this move is a forward-looking step into one of the world’s most dynamic regions.
(Editors: admin)