No more prince than the CEO of the Fürstenbank

The Liechtenstein LGT Group is reorganizing. There is also a change in the noble chief of the Fürstenbank.

In early 2021, the LGT Group will appear with a new top. As the Fürstenbank announced Tuesday, kicking Prince Philip of Liechtenstein due to age as president; take your position Prince Max of Liechtenstein who has been CEO of the princely company since 2006.

Olivier de Perregaux (Image below) in turn, the group’s long-standing CFO will become the new CEO of LGT Private Banking.

Dissolved group structure

The change in leadership follows a profound reorganization, in the course of which the group structure dissolves. In close cooperation with the Princely Family, the Board of Trustees, as owner, decided that the three business areas in private banking, asset management and impact investing will in future be directly managed by the Fürst Liechtenstein Foundation.

LGT Private Banking, LGT Capital Partners and Lightstone will continue to operate as independent companies, as stated. Prince Max will assume the presidency of the three new companies.

Privatbank seeks acquisition targets

According to the announcement, the units are already operating in very different markets, reducing synergies and economies of scale in the group. Now they are given more freedom: LGT Private Banking wants to further expand its position in the international market through organic growth and acquisitions in existing and new markets. The royal Fürstenbank grew fabulously under Prince Max and currently manages around 3,100 employees worldwide with CHF 170 billion in assets.

The youngest unit opens

For its part, LGT Capital Partners is driving global expansion in the areas of private equity and alternative asset management. The youngest of the three, Lightstone, said the company plans to become a world leader in impact investing and plans to make its $ 500 million investment portfolio available to outside investors through a fund structure in the fourth. trimester.