LGT has appointed Yoshitaka Nagakura, an industry veteran with over 25 years of experience, as Chairman and CEO Private Banking LGT Japan. He will report directly to Dr. Henri Leimer, CEO LGT Private Banking Asia Pacific. The company has commenced operations with an on-the-ground team of over 35 experienced employees with the local knowledge and skills to provide bespoke wealth management solutions to LGT’s clients in Japan.
H.S.H. Prince Max von und zu Liechtenstein, Chairman LGT, said: “We are delighted to be expanding our Asia Pacific footprint with the opening of our Tokyo office. 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.”
Dr. Henri Leimer, CEO LGT Private Banking Asia Pacific, added: “Since our establishment in Asia in 1986, LGT has shown that it has been able to expand into new markets, finding the perfect blend between global strengths and capabilities and the ability to localize our offering. The fact that our clients can invest in the same investment solutions and with the same long-term vision as the Princely Family makes us unique, and results in a natural alignment of interests.”
Japan is the third-largest economy in the world, making it a very attractive market for wealth management. Its households own a record of about USD 18 trillion in assets, but more than half of it is invested in low yielding cash and deposits. In 2020, one out of 40 Japanese was classified as wealthy, which makes it the second-largest market for high-net worth individuals after the United States.
Yoshitaka Nagakura, Chairman and CEO Private Banking LGT Japan, noted: “The traditional Japanese wealth management landscape is changing. We believe that LGT’s expertise in impact and environmental, social, governance (ESG) investing will be of value to Japanese investors. Our team of experienced professionals is looking forward to providing the wealth management service which LGT is known for globally, supported by local knowledge and understanding of our Japanese clients’ needs.”