People Moves
Change At Top Of LGT, New Chairman Named
The Princely Family in charge of the bank in the jurisdiction announced a change of leadership, with the current chairman standing down after being in the post since 2001.
LGT, yesterday set out more detail on its new management structure after announcing earlier in the year that its private banking, asset management and impact investing arms will be run as standalone companies.
The new management structures will come into force according to plan starting from the beginning of 2021, the year in which LGT will be celebrating its 100th anniversary, the group, which is based in Liechtenstein, said in a statement.
From 2021, HSH Prince Max von und zu Liechtenstein will assume the chairmanship of the foundation board, and Olivier de Perregaux will lead the private banking business as CEO. He has been chief financial officer of LGT since 2001. Prince Max takes over the chairmanship from HSH Prince Philipp von und zu Liechtenstein, who has held that post since 2001.
The current group structure will be dissolved at the end of 2021 and the three new companies will then be directly held by the Prince of Liechtenstein Foundation.
Besides de Perregaux, the other members of the executive board will be Heinrich Henckel (Switzerland), Henri W Leimer (Asia), Roland Schubert (Liechtenstein) as well as Michael Bürge (CFO), André Lagger (Financial Services) and Stephan Tanner (Front Solutions and Corporate Development).
LGT Capital Partners will continue to be led by Roberto Paganoni, CEO of LGT Capital Partners since 2001, and his experienced management team.
Another member of the banking dynasty, HSH Prince Hubertus von und zu Liechtenstein, a member of the board of directors of the LGT banks in Liechtenstein and Switzerland since 2017, will be another member of the family to sit on LGT Group’s foundation board. In the future, he will become a member of the board of LGT Private Banking. Thomas Piske has led the LGT private banking unit since 2009 as CEO.
Earlier this week LGT announced that it had agreed with UBS to purchase the bank's Austrian wealth management business.
