LGT starts booking assets in Hong Kong

Twenty-five years after it set up in Asia, LGT Bank is making use of the banking licence it won in April by starting to book assets from today in Hong Kong. For one thing, the Liechtenstein-based wealth- and asset-management group sees the offshore renminbi market as a major opportunity for firms in Hong Kong, says Silvan Colani, Hong Kong deputy chief executive at LGT Bank. “China is going softly softly in opening up the RMB market, because it’s aware of the problems you can ha…