LGT Private Banking has expanded its operations in Germany by opening an office in Frankfurt. This move increases LGT’s presence in the country, where it already has offices in Hamburg, Dusseldorf, and Cologne. The bank now serves high-net-worth (HNW) individuals, families, and entrepreneurs in four different regions of Germany.

The Frankfurt office will be staffed by a team of experienced local private banking experts. LGT offers a range of services including traditional investment advice and wealth management, planning, international real estate financing, and philanthropy advisory. The bank also assists with impact and alternative investments.

Florian Dürselen, a member of the executive board of LGT Bank, expressed his enthusiasm about the new location, citing Frankfurt’s status as one of Europe’s leading financial centres. Andreas Loretz, market head Germany and Austria at LGT Bank, also expressed satisfaction with the progress made in establishing and expanding the bank’s German locations.

Looking ahead, LGT plans to expand its headquarters in Munich and southern Germany. The bank has also made significant strides in the UK, having acquired Abrdn’s discretionary fund management operations in Leeds and Birmingham at a cost of £140m (approximately CHF158m). This acquisition, which includes about 140 employees, has increased the assets under control of LGT Wealth Management from £22bn at the end of June 2023 to more than £28bn, an increase of over £6bn. The bank plans to support this growth with future expansion at its current facilities in London, Edinburgh, Bristol, and Jersey.

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Information	Details
Geography	Europe
Countries	🇩🇪 🇬🇧 🇦🇹 🇯🇪
Sentiment	positive
Relevance Score	1
People	Andreas Loretz, Florian Dürselen
Companies	LGT Bank, Abrdn, LGT Private Banking, LGT Wealth Management, GlobalData
Currencies	British Pound, Swiss Franc
Securities	None