People Moves
Change At Top Of LGT, New Chairman Named
The Princely Family in charge of the bank in the jurisdiction announced a change of leadership, with the current chairman standing down after being in the post since 2001.
LGT, yesterday set out
more detail on its new management structure after announcing
earlier in the year that its private banking, asset management
and impact investing arms will be run as standalone
companies.
The new management structures will come into force according to
plan starting from the beginning of 2021, the year in which LGT
will be celebrating its 100th anniversary, the group, which is
based in Liechtenstein, said in a statement.
From 2021, HSH Prince Max von und zu Liechtenstein will assume
the chairmanship of the foundation board, and Olivier de
Perregaux will lead the private banking business as CEO. He has
been chief financial officer of LGT since 2001. Prince Max takes
over the chairmanship from HSH Prince Philipp von und zu
Liechtenstein, who has held that post since 2001.
The current group structure will be dissolved at the end of 2021
and the three new companies will then be directly held by the
Prince of Liechtenstein Foundation.
Besides de Perregaux, the other members of the executive board
will be Heinrich Henckel (Switzerland), Henri W Leimer (Asia),
Roland Schubert (Liechtenstein) as well as Michael Bürge (CFO),
André Lagger (Financial Services) and Stephan Tanner (Front
Solutions and Corporate Development).
LGT Capital Partners will continue to be led by Roberto Paganoni,
CEO of LGT Capital Partners since 2001, and his experienced
management team.
Another member of the banking dynasty, HSH Prince Hubertus von
und zu Liechtenstein, a member of the board of directors of the
LGT banks in Liechtenstein and Switzerland since 2017, will be
another member of the family to sit on LGT Group’s foundation
board. In the future, he will become a member of the board of LGT
Private Banking. Thomas Piske has led the LGT private banking
unit since 2009 as CEO.
Earlier this week LGT announced that it had agreed with UBS to purchase the bank's Austrian wealth management business.
