LGT expanding in Thailand
LGT is opening an office for its wealth management business in Thailand. The international private banking and asset management group owned by the Princely House of Liechtenstein is therefore continuing to pursue growth in Asia.
The competent supervisory authorities recently awarded regulatory approval to LGT for its planned wealth management office planned in Bangkok, the Liechtenstein banking group reported in a press release. “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,” commented H.S.H. Prince Max von und zu Liechtenstein, CEO of LGT, adding that Thailand is an important growth market for LGT. The new office “reflects our ambition to continue our growth path in Asia”.
The subsidiary in Thailand will be known as LGT Securities (Thailand) Limited. The local office in Bangkok will be led by Ekkapob Makeguljai, who has over 16 years of experience in the financial sector. LGT’s Thai market expansion will be overseen by private banking expert Karn Karuhadej.
The new Bangkok office will complement LGT’s existing private banking efforts in Hong Kong and Singapore. According to Henri Leimer, CEO of LGT Private Banking Asia, the group has “recorded very pleasing growth in recent years in the region and significantly increased our assets under management”. Thailand is a rapidly growing market for LGT with extremely interesting opportunities.