LGT Bank Switzerland has created a team devoted to business with external asset managers (EAMs) in the UK and Middle East.
The hires – Dominic Walther, Christian Meili, and Gabriele Di Cristo – and the entry into the Middle East mark the next step of LGT’s EAM expansion.
Walther, Meili, and Di Cristo joined LGT on 1 July and are based in Zurich. Walther and Meili joined from UBS, while Di Cristo was previously at Societe Generale.
The bank has increased the team dedicated to the international business to a total of eight relationship managers. LGT plans further hires for the operation, according to Rainer Buechel, who leads the newly-created EAM UK and Middle East team based in Zurich.
LGT said: “The EAM business – which includes multi-family offices – is facing several major challenges, including increasing regulatory oversight and shifting client needs. With the rising costs putting pressure on margins for EAMs, many are seeking a partner.”
