Capital launch

Liechtenstein family wealth firm targets Scotland

Andrew Davies, John Godfrey, and Lynsey Carson

A wealth management company controlled by the Liechtenstein Princely Family for more than 90 years is opening an office in Edinburgh.

LGT Wealth Management, part of the LGT Group, has more than £220 billion of assets under management.

Its first outpost in Scotland and its fourth in the UK will be run by John Godfrey, formerly regional centre head and senior investment director at Barclays Wealth and Investment Management.

LGT Wealth Management has been working closely with financial advisers and professional intermediaries in Scotland for a number of years, strengthened by the appointment of Lynsey Carson as business development director in 2017.  The firm now plans to grow the team.

Andrew Davies, partner and head of regional development at LGT Wealth Management, said: “As the business continues to grow, we recognise the importance of having a physical presence across the different regions.

“Scotland is an important area for us; we have a number of clients in the region already. Opening an office in Edinburgh will enable us to provide a better service and support to this market. John’s on-the-ground knowledge and wealth of experience will be invaluable to the success of this growth opportunity.”

Mr Godfrey said: “I was attracted to LGT Wealth Management by the private family ownership structure.”

LGT Wealth Management employs 419 staff and has offices in London, Bristol, Edinburgh, and Jersey. As of 31 December 2021, LGT Group managed assets of $313.7 billion  for private individuals and institutional clients.

The group employs more than 4,100 people who work out of more than 20 locations in Europe, Asia, the Americas, and the Middle East.

The Princely Family

Nestled between Switzerland and Austria, the Principality of Liechtenstein is the only country to lie entirely within the Alps. The country is a remnant of earlier times when there was dozens of states in German-speaking Europe. It is the smallest yet the richest of the four remaining ones, covering only 160 square kilometres and with a population of roughly 35,000.

Liechtenstein has the highest gross domestic product per person in the world when adjusted by purchasing power parity and has the world’s lowest external debt as well as one of the lowest unemployment rates.

Over the last 50 or so years, the country has made itself a name as a banking place though Liechtenstein is actually one of the most industrialised countries on earth and even without the financial sector it would still be one of the richest countries in Europe.

The Principality is reigned by a prince who is the European monarch with the most powers. The family’s main residence is Vaduz Castle located on a hill above the capital though they own many properties including two palaces in Vienna.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.