LGT, a private bank and asset manager owned by the Princely Family of Liechtenstein, has launched its wealth management office in Thailand after receiving go-ahead from regulators.
The new location in Bangkok will house investment consultants and investment planners.
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Dubbed LGT Securities (Thailand), the Thai business will offer investment and wealth management services to the country’s HNWIs and corporates.
LGT CEO Max von und zu Liechtenstein said: “We see Thailand as an important growth market, and the establishment of an onshore presence reflects our ambition to continue our growth path in Asia.”
The Thai office will be headed by Ekkapob Makeguljai, whose wealth management career spans more than 16 years.
LGT Private Banking Asia CEO Henri Leimer calls the expansion a “strategic milestone” for the firm’s Asia business.
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By GlobalDataCommenting on the move, Leimer said: “We have recorded very pleasing growth in recent years in the region and significantly increased our assets under management.
“Thailand is a rapidly growing market with extremely interesting opportunities. With our local presence in Bangkok, we can now advise and support our Thai customers even better on-the-ground.”
Vaduz-based LGT reported assets under management of $207.5bn in the middle of last year.
The bank oversees $60bn in assets in Asia.
