LGT wealth arm debuts in Scotland as it unveils new EMEA-wide revamp for private banking

LGT Wealth Management, part of the LGT Group, has opened an office in Edinburgh, as its private banking arm announces a new EMEA-wide governance structure for its activities in Liechtenstein, Switzerland, Austria and the Middle East.

Its first wealth management presence in Scotland and its fourth in the UK will be run by John Godfrey, formerly regional centre head and senior investment director at Barclays Wealth and Investment Management.

LGT Wealth Management has been working closely with financial advisers and professional intermediaries in Scotland for a number of years, strengthened by the appointment of Lynsey Carson as business development director in 2017. The firm now plans to grow the team.

Andrew Davies, partner and head of regional development at LGT Wealth Management, said: "As the business continues to grow, we recognise the importance of having a physical presence across the different regions.

"Scotland is an important area for us; we have a number of clients in the region already. Opening an office in Edinburgh will enable us to provide a better service and support to this market. John's on-the-ground knowledge and wealth of experience will be invaluable to the success of this growth opportunity."

Godfrey said: "I was attracted to LGT Wealth Management by the private family ownership structure."

LGT Wealth Management employs 419 staff and has offices in London, Bristol, Edinburgh, and Jersey. As of 31 December 2021, LGT Group managed assets of $313.7bn for private individuals and institutional clients.

The group employs more than 4,100 people who work out of more than 20 locations in Europe, Asia, the Americas, and the Middle East.

Yesterday (20 June) LGT Private Banking also announced that it would introduce a new EMEA-wide governance structure for its activities in Liechtenstein, Switzerland, Austria and the Middle East, reflecting the company's growth in recent years. 

Region EMEA will be led by Roland Matt, who will also remain CEO of LGT Bank Liechtenstein.

Following the successful development of LGT's private banking activities from CHF 108 billion in assets under management (AuM) in 2016 to CHF 207 billion in 2021, the new regional EMEA structure will help LGT Private Banking manage further profitable growth more effectively. 

Region EMEA (excl. LGT Wealth Management UK), combining CHF 109 billion in AuM as of end-2021, will strengthen region-wide collaboration, speed up decision-making and facilitate faster introduction of new initiatives in face of digitization and evolving client needs. It will also support alignment with the existing Region APAC as well as within LGT Private Banking overall. 

Governance at group and market levels remains unchanged. The banks at the individual EMEA locations will continue to be managed by Heinrich Henckel (Switzerland), who will also remain a member of the LGT Private Banking Senior Management Board, as well as Meinhard Platzer (Austria) and Sebastian Goeres (Middle East).

Olivier de Perregaux, CEO of LGT Private Banking: "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."

The new setup will become effective as of 1 January 2023.