“Our clients are increasingly seeking sophisticated, cross-border solutions, and Singapore has cemented itself as a critical hub for wealth management in Asia,” remarked H.S.H. Prince Max von und zu Liechtenstein, CEO of LGT, following the announcement of the firm’s acquisition of a boutique wealth management company in Singapore. This move underscores LGT’s strategic commitment to growth in Asia, a region that continues to outpace global averages in wealth creation and demand for tailored financial solutions.
LGT Private Banking, the Liechtenstein-based financial institution wholly owned by the Princely House of Liechtenstein, has long been synonymous with discretion and bespoke client services. The acquisition, finalized earlier this month, involves the purchase of a Singaporean firm specializing in family office services and offshore investment planning for ultra-high-net-worth individuals (UHNWIs). The deal not only expands LGT’s footprint in Asia but also enhances its capacity to cater to the region’s growing base of multi-generational wealth holders.
The acquisition comes at a time when Singapore is solidifying its position as a global financial hub, rivaling Switzerland and Hong Kong in its appeal to high-net-worth individuals. According to the latest Boston Consulting Group report, Singapore saw a 12% year-on-year increase in assets under management (AUM) in 2022, with family offices doubling in number since 2020. LGT’s decision to deepen its roots in the city-state reflects broader industry trends, as wealth management firms recalibrate their strategies to align with Asia’s burgeoning market.
“This acquisition is more than just a geographical expansion,” said Olivier de Perregaux, CEO of LGT Private Banking Asia. “It’s about aligning our expertise with the unique needs of Asian clients, who are increasingly looking for seamless, multi-jurisdictional solutions to preserve and grow their wealth.”
The Singapore-based firm, whose name has not yet been disclosed due to regulatory guidelines, will be integrated into LGT’s global network, allowing clients to access a broader array of investment opportunities and services. Analysts have noted that this acquisition could set the tone for a wave of consolidation within the region’s competitive wealth management sector. Smaller firms, though highly specialized, often lack the resources to scale globally, making them attractive targets for larger institutions like LGT that seek niche expertise alongside market access.
As wealth transitions to younger generations in Asia, the demand for services such as philanthropy advisory, ESG investing, and digital asset management continues to rise. By bolstering its presence in Singapore, LGT is positioning itself to capture this evolving demographic while reinforcing its reputation as a trusted custodian for family offices and UHNWIs.
LGT’s move also highlights the increasing role of offshore banking jurisdictions in providing stability during periods of geopolitical uncertainty. Singapore’s robust regulatory framework, coupled with its strategic location, has made it a favored destination for wealth diversification and risk mitigation. As other jurisdictions face scrutiny or economic turbulence, the city-state has emerged as a beacon for affluent individuals seeking long-term security.
With its latest acquisition, LGT not only strengthens its competitive edge but also reinforces its dedication to fostering enduring relationships with clients across generations. As Prince Max emphasized, “Our work is built on trust, sustainability, and a deep understanding of our clients’ aspirations. These principles guide every step we take, including this one.”
The integration process is expected to conclude by mid-next year, and industry observers will undoubtedly keep a close eye on how this acquisition reshapes the wealth management landscape in Asia. For LGT, this is not merely an expansion—it is a statement of intent in one of the world’s most dynamic and fast-growing markets.
(Editors: admin)