LGT has been present in Dubai for five years. Today, 84 employees at the LGT office in DIFC advise and support wealthy private clients in the Gulf region.
Peter Schaer, Senior Executive Officer LGT in Dubai, speaks about the bank, its philosophy and its plans for Middle East.
LGT Bank is one of the fastest growing private banks: what is your recipe for success?
Our success is to a large degree attributable to our outstanding client services, our strong balance sheet, which reflects a high degree of financial security, and our focus on investment management as a core area of expertise.
Important cornerstones also remain our strong corporate culture and our stable ownership and management structures – LGT has been owned and managed by the Princely House of Liechtenstein for over 80 years.
Can you briefly define the philosophy which inspires the investment strategies of LGT?
It is quite unique for a private bank to give clients the opportunity to invest in the same investment strategies and solutions as its owners.
This is the case with us. As a result, both clients and the owner are sitting in the same boat and have the same interest in a good performance.
We take a long-term approach in our investment strategy for wealth management. When we develop such strategies, we place great value on well thought-out risk diversification. As an active investor, we invest where possible in undervalued investments and very high quality markets.
LGT is active in many fields such as the promotion of the arts and philanthropy. What are the main projects underway?
In the area of the arts, we concentrate on promoting the Princely Collections, which are the collections of our owner, the Princely Family of Liechtenstein. The Princely Collections are an impressive symbol of the Liechtenstein family’s effort to create and maintain value.
The same long-term thinking has guided us in building LGT and developing our business areas and competencies.
With regard to philanthropy, we established a foundation in 2007 on the initiative of our CEO, H.S.H. Prince Max von und zu Liechtenstein, that aims to improve the quality of life of less advantaged individuals and give them improved prospects for the future.
Through this foundation, we support over 50 organisations and companies around the world that offer an effective solution for social or ecological problems.
Could you tell us about your plans for LGT Bank in the Middle East?
For more than 10 years we have continuously grown our business here. The private ownership by the Princely Family of Liechtenstein has allowed us to take a long-term view on the region and as a result, we’ve been able to grow during difficult periods.
We believe such consistency and continuity are very important in the private banking business as we are looking to cultivate long-term relationships with our clients and staff.
Dubai is an important hub in our Private Banking strategy which offers clients from the region full access to our complete product range and outstanding service.
LGT is a leading international private banking and asset management group that has been fully controlled by the Liechtenstein Princely Family for over 80 years. As per 31 December 2017, LGT managed assets of CHF 201.8 billion ($207.0 billion) for wealthy private individuals and institutional clients. LGT employs over 3000 people who work out of more than 20 locations in Europe, Asia, the Americas and the Middle East. www.lgt.com
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