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LGT establishes technology hub in Barcelona

20 Apr 2023
Vaduz - LGT is establishing a digital development hub in Barcelona, where digital services and products will be developed. LGT plans to invest a total of 200 million Swiss francs in its strategy for digitization over the next five years.

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LGT Group plans to invest 200 million Swiss francs in the development and improvement of its digital financial services over the next five years. To do so, LGT Private Banking is setting up a digital development hub in Barcelona. The private bank owned by the princely family of Liechtenstein has published a press release, which contains a quote from LGT Private Banking CEO Olivier de Perregaux: «Our strong client base and highly motivated colleagues provide a solid foundation for accelerating our digitization efforts in the Barcelona hub.» 

The development capacity required to implement the digitization strategy will be created at the LGT Incubator and Accelerator Centre in Barcelona. LGT is working with the German software company GFT to develop the technology hub. Jens-Thorsten Rauer, CEO of GFT Central and Western Europe, comments in the press release: «As digital transformation pioneers, we are thrilled to be combining our top-tier engineering and project management methodologies with the outstanding financial expertise of one of the world’s leading private banks. Together with LGT’s outstanding front and back office employees, GFT will get the new hub up and running and expand the bank’s digital offerings.»

After its completion in around two years’ time, LGT plans to operate the center independently of GFT. Around 40 employees in Barcelona will develop innovative new methods as well as designing and implementing digital products, LGT states. With this, the private bank also plans to benefit from Barcelona’s range of specialists and the city’s links with other European locations. hs