LGT Crestone is on the hunt for someone to cover family office clients, and is planning to offer mansion mortgages to snare a larger share of Australia’s wealthy.
LGT Crestone, the financial adviser backed by the Liechtenstein royal family, has stepped up its campaign to poach Credit Suisse’s wealthy clients and leverage the perception of any instability surrounding the Swiss bank’s takeover by UBS.
UBS memorably exited Australian wealth management in 2016, when its former staff took over the business from the Swiss bank through a management buyout. LGT subsequently acquired that business in a $475 million deal which closed last year.dominant private banking arm, led by Michael Marr, Two people familiar with LGT Crestone’s business confirmed the new mortgage offering. Mr Chisholm clarified it would not be doing “retail mortgages”.