Liechtenstein-headquartered LGT opened a new wealth management office in Tokyo. It is stocking the effort at the expense of a prominent Swiss rival.
Following regulatory approvals, LGT opened a new office in the Okura Prestige Tower located in Tokyo’s business district, it said in a statement on Thursday. This represents an expansion of its regional efforts in wealth management, led in Asia-Pacific by Henri Leimer.
A local team made up of more than 35 professionals will vie to provide bespoke wealth management solutions to clients in Japan. LGT named Yoshitaka Nagakura chairman and chief executive for the private banking unit. Nagakura and roughly two dozen others are moving from Credit Suisse to LGT.
LGT is taking a different tack than UBS, which is partnering with a Japanese bank for wealth management. «We see tremendous opportunities to share LGT’s experience in long-term, sustainable investments and wealth management with Japanese clients,» LGT chairman H.S.H. Prince Max von und zu Liechtenstein said.
