New Office
LGT Said To Set Up Business in Dubai With Ex-Clariden Leu Bankers
LGT Group, the Liechtenstein-based private bank, is establishing operations in Dubai,Reuters reported, citing three unnamed sources.
The firm has appointed at least six private bankers from Clariden Leu (part of Credit Suisse) for the business, the news service reported. Mannan Adenwalla, Clariden's managing director in Dubai, will run LGT's operations in Dubai, the report continued.
LGT oversaw SFr86.9 billion ($90.2 billion) at end-2011. This firm declined to comment when contacted by the news service.
LGT's operations are likely to be based in the tax-free Dubai International Financial Centre, home to most global banks in the region, the news service said.
