The banking group is to say goodbye at the end of this year to the CEO of its Thailand operation which was established in 2019. LGT is among several European private banks that have built operations in Southeast Asian countries.

LGT, the Liechtenstein-headquartered private bank, confirmed to WealthBriefingAsia yesterday that the chief executive of its Thailand business, Ekkapob Makeguljai, is to leave at the end of 2025. He is based in Bangkok.

Makeguljai is departing for personal reasons, a spokesperson said when asked about the matter. A replacement will be announced in due course.

Thailand is an important market for LGT, it said, noting that as at the end of 2024, it had $132 billion in AuM in its Asia-Pacific business.

Like a number of its European peers, such as Bordier & Cie and Julius Baer, LGT has targeted the Southeast Asia region as an important growth opportunity. Makeguljai has been in the CEO post since LGT announced it was opening the LGT Securities (Thailand) Limited subsidiaries, in 2019. 

Before taking on the role in January 2019, Makeguljai was executive vice president, KTB – Krung Thai Bank, and before, that, he was a director of Bank of America Merrill Lynch, in Thailand. He has also worked at Citigroup and Standard Chartered.

To see the LGT results for the overall group, in 2024, click here.