LGT, based in Vaduz and owned by the principal family of Liechtenstein, has opened a wealth management office in Bangkok, Thailand, the company said in a statement released on Thursday. The team of investment consultants and planners based in Thailand will provide investment and wealth management services to Thai clients.

«We see Thailand as an important growth market, and the establishment of an onshore presence reflects our ambition to continue our growth path in Asia,» CEO H.S.H. Prince Max von und zu Liechtenstein said about the new office.

Growth Market

«We have recorded very pleasing growth in recent years in the region and significantly increased our assets under management. Thailand is a rapidly growing market with extremely interesting opportunities. With our local presence in Bangkok, we can now advise and support our Thai customers even better on-the-ground,» Henri Leimer, CEO LGT Private Banking Asia, added.

As of mid-2018, LGT had $207.5 billion in assets under management. In Asia, LGT is ranked the 12th-largest private bank, with more than $60 billion assets under management.