LGT Wealth India, a private wealth management firm within the LGT Group, has strengthened its wealth planning capabilities with the appointment of Poonam Mirchandani as managing Director for the wealth planning & family solutions division.
Based in Mumbai, Mirchandani will work with the LGT Wealth India team to expand its offerings in succession and estate planning. She will also help with wealth management, global mobility, and philanthropy.
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She joins from Barclays Private Bank and has held senior roles there and at Vistra ITCL India.
Atul Singh, managing director and CEO of LGT Wealth India, said: “India Inc is set to experience a wave of succession – both for businesses and wealth – in the coming decade. We are excited to welcome Poonam Mirchandani to our team. Her profound industry insights and strategic acumen in family and wealth planning will be instrumental in enhancing our advisory capabilities with effective solutions. This appointment aligns with LGT Group’s global vision, reinforcing our commitment to excellence and positioning LGT Wealth India at the forefront of global wealth management in India.”
Driven primarily by increasing income from services (up 15%), LGT maintained its worldwide growth path in H1 2024 and delivered a substantial performance in the period.
Group profit in H1 2024 was CHF174.6m ($201m) for LGT, a 22% decrease from the previous year’s result, as interest rates adjusted and growth-related investments in personnel and digitalisation persisted.
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By GlobalDataNet asset inflows remained high in the first half of 2024, totalling CHF8.0bn (5% annualised growth).
Assets under administration climbed 13% to CHF356.0bn by the end of the first half of 2024, compared to the same period in 2023.
Comparing the first half of 2024 to the same time the previous year, the group’s overall operating income increased by 4% to CHF1.28bn.
