Liechtenstein-based private lender LGT has announced a new governance structure for its activities in Liechtenstein, Switzerland, Austria and the Middle East.

The move follows the growth of the company’s private banking activities from CHF 108bn in assets under management (AuM) in 2016 to CHF 207bn in 2021.

LGT said that the new regional EMEA structure will help the bank drive further profitable growth more effectively.

Region EMEA, which combines CHF 109bn in AuM as of end-2021, will be led by Roland Matt.

In addition to his new role, Matt will also remain in his current role as CEO of LGT Bank Liechtenstein.

LGT expects the new governance structure to accelerate region-wide collaboration, speed up decision-making and enable the faster rollout of new initiatives.

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It is also anticipated to support the bank’s alignment with the existing Region APAC as well as within the broader group.

Commenting on the development, LGT Private Banking CEO Olivier de Perregaux said: “Our business has significantly increased in size and substance over the last several years, and the establishment of Region EMEA under the leadership of Roland Matt will help us to manage further profitable growth effectively. Paired with our entrepreneurial culture and strong client orientation, we are further solidifying our organisation with this step.”

In December last year, LGT signed a conditional agreement to acquire Australia-based Crestone Wealth Management for around $338m.

It followed the Liechtenstein lender’s deal to purchase a strategic minority stake in the German digital wealth manager LIQID in July.

In 2020, LGT took full control of LGT Vestra.