Vaduz/Dubai: LGT Group, an international private banking and asset management group, today announced the opening of its first office in Dubai following regulatory approval. Located in the Dubai International Financial Centre, LGT Group will offer a unique set of advisory and execution services to private banking clients across the GCC, East Mediterranean, Turkey, Africa and South Asia.
The office was opened by Prince Max von und zu Liechtenstein, CEO of LGT Group. Commenting on the news, he said: “The Middle East represents one of the most significant growth markets for our services, globally. Our objective, through the establishment of LGT Middle East, is to create a strong presence within the region with the Dubai office a central hub for family-focused private banking services.”
“Advising families is at the heart of the LGT ethos. This is what distinguishes LGT. It is the largest Private Banking and Asset Management group in Europe that is wholly-owned by an entrepreneurial family, the Princely Family of Liechtenstein, which has personally owned and managed LGT for more than 80 years. The family-managed, simple and stable ownership structure of LGT Group allows us a high degree of alignment between the investment interests of our clients and our interests as a family. Our clients can invest like the Princely Family, their assets benefit from the same expertise, the same structure and processes, as well as from the same relationships as our family assets. Last but not least, our clients deal with a family member or a representative of the family.”
Attracting investment
Jeffrey Singer, CEO of DIFC Authority, said: “We are pleased to welcome LGT Middle East to our community of financial and professional services firms. DIFC is not just a cornerstone of the Dubai and UAE economies, but is also the centre for attracting investment, supporting economic growth across the region, and enabling global capital flow. LGT’s decision to establish its regional base in DIFC will provide the company with the ideal platform and modern infrastructure needed to grow its presence in our region. In turn, investors in our region will benefit from LGTs wealth of experience and time-tested processes.”
LGT Group has established a subsidiary, LGT (Middle East) Limited, which will serve clients from its offices in Dubai, Bahrain, Geneva and Zurich. Headquartered in the DIFC, LGT Middle East has now received regulatory approval from Dubai Financial Services Authority to commence operations in Dubai, providing private banking services to clients.
