LGT Middle East

TAKING THE LONG VIEW AT LGT MIDDLE EAST

Sebastian Goeres, Senior Executive Officer, LGT Middle East, talks to WealthBriefing Group Editor Tom Burroughes.

Sebastian Goeres

Senior Executive Officer, LGT Middle East

Please explain what you think makes your firm successful in its chosen field.

We believe success begins and concludes with our clients. We want to genuinely understand their situation and needs, communicate from an intelligent and empathic place, and offer them ideas, honest feedback, solutions, or even potential connections such as to fellow philanthropists. We measure our success in how well we do this consistently.

Our owner, the Princely Family of Liechtenstein, comprises a huge factor in our success. We take our role in business and society very seriously, and our interests are closely aligned with those of our clients. For clients, it is reassuring to know that we won’t just be here today and tomorrow, but well into the future: our regional commitment is firm and unwavering. Our owner is entrepreneurial and thinks in centuries and generations, not quarters. This allows us to take a uniquely long-term view for and with our clients.

The other important factor that family ownership offers is an understanding of and experience in dealing with complex, multi-generational client issues, which comes in handy with our clients in the region who own family businesses.

Where in the world do you operate – are you mainly a domestic player or international?

LGT’s roots are in Europe, but we are now a leading international private banking and asset management group with a considerable portion of our assets outside Europe. We have been expanding considerably in the region for more than ten years now - and we aren’t finished. We’re hiring in the Middle East, and we’ve just expanded our offering in India, Japan, and Australia as well. This is part of LGT’s long-term international strategy, fully supported by our owner.

What position would you like your firm to hold in its sector in five years’ time?

It’s less about LGT holding a position than it is about our clients, doing what is sensible, helpful, and insightful by them, and ensuring they are satisfied with what we are offering them. I would like LGT to be perceived as a holistic wealth manager which can just as deftly manage your investments as have an intelligent, informed conversation about potentially thorny issues to families, like governance or succession.

I’d like for our clients in the region, which has a rich tradition of giving, to be drawing on LGT’s expertise and experience in areas like philanthropy, sustainability, or impact investments. The Princely Family’s view is that wealth itself isn’t a purpose, but that it comes with a sense of responsibility. Being wealthy means embracing and acting on that responsibility, as well as passing these values on to the next generation.

As LGT grows larger in international markets, we see a similar approach to philanthropy in other cultures and countries, including those in the Middle East. What do you like most about the wealth management industry, and what do you like least and would like most to change?

This is a great industry but if there is something I could change, it’s the impression that wealth managers only call because they have a product to peddle. A trusted quality adviser isn’t pushing products: they are adding value as a holistic and client-centric advisor to individuals and families.

What I like most is every day, every client, every situation is very different - and circumstances can change quickly. I thrive on the quickstep between the human factor of empathy and financial market, geopolitical, and macroeconomic knowledge.

“I THRIVE ON THE QUICKSTEP BETWEEN THE HUMAN FACTOR OF EMPATHY AND FINANCIAL MARKET, GEOPOLITICAL, AND MACROECONOMIC KNOWLEDGE.”

PURE PLAY PRIVATE BANK

WINNER LGT Middle East

PRIVATE BANK - PHILANTHROPY OFFERING

WINNER LGT Middle East