New Office
LGT's Germany Expansion Proceeds: Opens Hamburg Office
Following the Hamburg move, LGT said it is building its business in central and southern Germany. The bank's German operations are headquartered in Munich.
LGT
Private Banking has opened a new office in Hamburg, adding to
its German footprint in the north of the country. The bank said
it is considering further expansion across Germany.
The Liechtenstein-based group said the necessary regulatory
approvals for the office have been obtained.
A team of about 15 people, led by Torsten Hein and Jörg Finck, is
starting to build the business in northern Germany, LGT said in a
statement yesterday.
LGT’s activities in Germany will initially be carried out by the
new team in Hamburg. In a next step, the private bank will build
the business in central and southern Germany. In addition to
Hamburg and its headquarters in Munich, further locations in
Germany are also being considered.
As well as traditional investment services such as advisory and
portfolio management, services will include wealth planning,
international real estate financing, impact investments,
alternative investments such as private equity and dedicated
philanthropy advisory services.
“Germany is one of the largest private banking markets in Europe.
It is therefore logical for us to be present there. Having
locations in Germany will enable us to advise our clients
locally. It also means that qualified and committed relationship
managers in the German market will have the opportunity to work
for a highly successful, leading international private bank,” HSH
Prince Max von und zu Liechtenstein, chairman of LGT, said.
The German subsidiary will be led by Florian Dürselen, a member
of the executive board and head of private banking at LGT
Bank.
Andreas Loretz, a long-standing department head for
Germany/Austria at LGT Bank, will be responsible for the
operational management of the client business.
The newly-established subsidiary of LGT Bank Ltd will be based in
Munich.
As at 30 June 2022, LGT managed assets of SFr284.7 billion
($297.4 billion) for wealthy private individuals and
institutional clients.
