LGT Opens Private Banking Office in Japan
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Liechtenstein-headquartered LGT opened a new wealth management office in Tokyo as part of its efforts to capture opportunities in Japan’s private banking market.
Following regulatory approvals, LGT has opened a new office in the Okura Prestige Tower located in Tokyo’s business district, according to a statement.
The unit will aim to provide bespoke wealth management solutions to clients in Japan with a local team made up of over 35 experienced professionals.
Earlier this year, 25-year industry veteran Yoshitaka Nagakura was named market head for Japan and will now be appointed as chairman and chief executive for LGT’s Japan private banking unit, reporting directly to APAC private banking CEO Dr. Henri Leimer.
He joined from Credit Suisse where around two dozen other private bankers were reportedly also in the process of shifting over to LGT in Japan.
We are delighted to be expanding our Asia Pacific footprint with the opening of our Tokyo office, said LGT chairman H.S.H. Prince Max von und zu Liechtenstein in the statement. We have a deep commitment to responsible investing and we see tremendous opportunities to share LGT’s experience in long-term, sustainable investments and wealth management with Japanese clients.
Questions & Answers
Q.Where is LGT's new private banking office in Japan located?
Where is LGT's new private banking office in Japan located?
The new wealth management office is situated in the Okura Prestige Tower, which is located in Tokyo's business district. This expansion is part of LGT's strategy to capitalise on Japan's private banking market.
Q.Who will lead LGT's Japan private banking unit?
Who will lead LGT's Japan private banking unit?
Yoshitaka Nagakura, a 25-year industry veteran, has been named chairman and chief executive for LGT's Japan private banking unit. He previously joined LGT earlier this year as market head for Japan.
Q.How many professionals are expected to staff the new Tokyo office?
How many professionals are expected to staff the new Tokyo office?
The new Tokyo office is planned to be staffed by a local team comprising over 35 experienced professionals. Around two dozen private bankers from Credit Suisse were also reportedly moving to LGT in Japan.