LGT Private Banking, owned by the princely family of Liechtenstein, is restructuring its EMEA governance model in response to the firm's growth.
With assets under management (AUM) growing to 207 billion Swiss francs ($213 billion) at the end of last year from 108 billion francs in 2016, LGT announced a new regional structure for Europe, the Middle East, and Africa (EMEA) on Monday to help with this growth. The new structure will be effective as of January 1, 2023.
The new region will be headed by Roland Matt who is currently also the CEO of LGT Bank Liechtenstein. Matt, a Liechtenstein native, joined the LGT Bank at the beginning of 2021 and is part of the wider private banking group of LGT, headed by CEO Olivier de Perregaux.
Strengthening the Business
«Our business has significantly increased in size and substance over the last several years, and the establishment of Region EMEA under the leadership of Roland Matt will help us to manage further profitable growth effectively. Paired with our entrepreneurial culture and strong client orientation, we are further solidifying our organization with this step,» said Perregaux.
The EMEA region which excludes LGT Wealth Management UK had a combined 109 billion francs of AuM at the end of last year. LGT said the move will strengthen region-wide collaboration, speed up decision-making and allow the faster introduction of new digitization initiatives in face of digitization. It will also support alignment with the existing Region APAC as well as within LGT Private Banking overall.
Individual EMEA Locations
Governance at group and market levels remains unchanged. Individual EMEA locations will continue to be managed by Heinrich Henckel (Switzerland), who remains a member of the LGT Private Banking Senior Management Board, as well as Meinhard Platzer (Austria) and Sebastian Goeres (Middle East).
