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LGT is looking for even more bankers, despite a hiring spree that boosted the headcount in 2017. Liechtenstein's Prince Max is now eager to get more staff for positions at the «front».

Vaduz-based LGT increased its headcount by 556 to 3,188 last year, a massive boost that was mostly associated with the acquisitions of European Capital and the Asia business of ABN Amro. One third of the increase however was organic.

Prolific business and the two acquisitions helped the company reach a new dimension: the bank for the first time in its history has more than 200 billion Swiss francs in assets under management. Some 55 billion are based in the Asia and Middle East growth regions, CEO Prince Max von Liechtenstein said at a media briefing on Monday in Zurich. «Our share of assets under management in Asia is higher than at most other private banks,» he added.

More Is to Come

But even after this quantum leap, LGT isn’t done with hiring and acquiring: «The consolidation will slow but we will keep looking for attractive acquisitions, also in Asia,» Prince Max said. Because of its track record, LGT was an attractive proposition for companies eager to sell, the CEO added.

The expansion will leave further marks in the company’s headcount. LGT in the past years hired a lot of experts for developing its IT. Now, it is looking for staff for the business at the front, according to Thomas Piske, the private banking boss. «We are in demand as an employer and are easily able to grow organically.»

A Strong Defense