Published by Wealth Briefing Asia – 19th May 2017
Liechtenstein-headquartered LGT, which recently bought the Asia private banking business of ABN AMRO, has made senior management changes to its private banking team in the region, this news service can exclusively report.
Hanspeter Oes has taken on a newly-created role of regional chief operating officer for Asia. Karl-Heinz Klaus has taken on the role of head of private banking for Hong Kong, with Silvan Colani becoming head of Singapore private banking; Colani retains his existing role of chief executive of LGT Bank (Hong Kong). Dominique Joye retains his role as CEO of LGT (Singapore).
As previously, and exclusively reported by this news service, LGT earlier this year added to its Singapore private banking team with the hire of Elizabeth Hart as Senior Private Banker, formerly chief executive at Rothschild Wealth Management. Hart was previously at Rothschild for 12 years.
In July last year, former HSBC Private Bank employee Michael Hua, who left his Singapore-based role three months ago, resurfaced at LGT
LGT’s acquisition of the Asian businesses of ABN AMRO, as originally announced in December last year, means that LGT’s assets under management have grown to about $50 billion in Asia (including Middle East) and around $180 billion overall as per the end of April 2017, LGT said in a statement.
The M&A deal represents a consolidation trend in Asia’s private banking sector. This publication reflected on the dynamics at work in this analysis.
