LGT, fully owned since 1930 by the European principality’s royal family, has $12bn in assets in Asia and wants to grow by 10% to 15%a year, Dominique Joye, chief executive of the Singapore unit, said in an interview. The bank’s global assets total $90bn, he said.
LGT aims to tap a rising level of personal wealth in Asia, where economic growth is projected to outpace the rest of the world this year. Joye said the bank, which employs 250 people in Hong Kong and Singapore, will add headcount in marketing, without specifying a number.
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LGT has been in Asia since 1986 with $8bn in assets currently booked in Singapore, according to Joye.
Source: Private Banker International
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