The new office is located in the Dubai International Financial Centre and it will offer set of advisory and execution services to private banking clients across the GCC, East Mediterranean, Turkey, Africa and South Asia.
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The office was opened by HSH Prince Max von und zu Liechtenstein, CEO of LGT Group, who, on said regarding the move: "The Middle East represents one of the most significant growth markets for our services, globally. Our objective, through the establishment of LGT Middle East, is to create a strong presence within the region with the Dubai office a central hub for family-focused private banking services."
Jeffrey Singer, CEO of DIFC Authority, added: "We are pleased to welcome LGT Middle East to our community of financial and professional services firms. DIFC is not just a cornerstone of the Dubai and UAE economies, but is also the centre for attracting investment, supporting economic growth across the region, and enabling global capital flow. LGT’s decision to establish its regional base in DIFC will provide the company with the ideal platform and modern infrastructure needed to grow its presence in our region. In turn, investors in our region will benefit from LGTs wealth of experience and time-tested processes."
As of now, LGT Group has established a subsidiary, LGT (Middle East) Limited, which will serve clients from its offices in Dubai, Bahrain, Geneva and Zurich.
Further, headquartered in the DIFC, LGT Middle East has received regulatory approval from Dubai Financial Services Authority to commence operations in Dubai, providing private banking services to clients.
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