LGT and JO Hambro Capital Management have opened offices in Germany.
LGT will set up a private banking operation in Hamburg after receiving all relevant approvals.
The office will host a team of 15, headed by Torsten Hein and Jörg Finck who have been tasked with building the business in northern Germany.
While the hub of activity will be in the north, LGT Bank has opted to set up its headquarters in Munich, led by Florian Dürselen, head private banking at LGT Bank. He will work alongside Andreas Loretz, department head for Germany and Austria at LGT Bank, who will be responsible for the operational management of the client business.
The Liechtenstein-headquartered firm is looking to build out LGT Bank in central and southern Germany.
Clients will have access to the full range of LGT products and services including advisory and portfolio management, wealth planning, international real estate financing, impact and alternative investments, and philanthropy advisory services.
Prince Max von und zu Liechtenstein, chairman of LGT, said: “Germany is one of the largest private banking markets in Europe. It is therefore logical for us to be present there. Having locations in Germany will enable us to advise our clients locally. It also means that qualified and committed relationship managers in the German market will have the opportunity to work for a highly successful, leading international private bank. Thanks to our long-standing experience in managing significant assets and our services, especially in the area of private markets, sustainable investments and UHNWI services, our clients in Germany will have access to a unique offering.”
Active asset manager JO Hambro Capital Management (JOHCM) has opened an office in Munich.
Relocating from the firm’s London office to Munich are TJ Voskamp, head of distribution UK, Europe and Asia; Annabelle Wegner, head of intermediary sales for Germany, Austria and Switzerland; and Dach sales manager Marco Maier.
“The establishment of the German location is an important part of JOHCM’s growth plans in continental Europe,” said Voskamp.
“Germany is one of Europe’s largest and most diverse asset management markets and represents a very exciting prospect for us. With a stronger local presence, we want to offer our clients an even better service in the future and grow our brand in the Dach market.”