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Portrait of Thomas Piske

Board of Management. He has been responsible for LGT Group’s

global private banking operations since 2006. “I started at the

bank as a trainee, and today I’m doing CEO training”, says

Thomas Piske. “Because every day I learn something new.”

It’s well known that successful bankers change their employer

several times during their career. For Thomas Piske that does

not apply. “I’m very happy to work for the Princely Family and

they have always supported me”, he says. The bank’s ownership

structure guarantees stability and permits a long-term approach

to work, but also active innovation. Additionally, there is the

clear focus on the two business areas of private banking and

asset management. “Traditionally, we are a cautious bank and

we have only ever undertaken business activities that we un-

derstand thoroughly.” This consistency and circumspection are

appreciated equally by clients and employees.

In his private life too, the 54-year old CEO values stability: he

has been married for 27 years and has three daughters and a

son. He lives with his family in Schruns in the Austrian province

of Vorarlberg, where he also grew up. He has very close ties

with his home town. “I particularly appreciate the quality of life,

which this region offers”, he explains. Thomas Piske travels a lot

professionally. “Sport provides an ideal balance for me”, says the

passionate skier and mountain hiker. A healthy balance between

exercise and sociability is very important to him. “When I’m on

a mountain hike there also has to be a break for a beer with

friends”, he grins.

Flair for knowing what clients need As head of LGT’s Private Banking, Thomas Piske leads around

1000 staff. Nonetheless, he still finds time to take care of some

clients personally. “These relationships have developed over 15

to 20 years”, he explains. And he wants to continue to have his

finger on the pulse of the business. It almost goes without say-

ing that Thomas Piske has a flair for identifying a client’s needs.

Thomas Piske is doing something he usually doesn’t do: he is

sitting in his office. Usually he is on the move, meeting with cli-

ents, or talking to employees. His assistant keeps him informed

about the things he has to take care of between the next mee-

ting and the next client appointment. A tough day lies ahead.

Nevertheless, the CEO of LGT Private Banking is relaxed. “I’m

not a hectic person”, he says. In 26 years as a private banker he

has also learned how to deal with difficult situations.

From trainee to ongoing “CEO training”After completing his business administration studies in Inns-

bruck, Thomas Piske joined LGT, then called Bank in Liech-

tenstein, in 1986. Here he learned about banking business from

the bottom up. After just twelve years he was appointed to the

The head traineeThomas Piske joined LGT 26 years ago – as a trainee. Today, he heads our worldwide private banking operations with around 1000 staff. His credo? Understand clients and inspire them.

“Listening properly is the most important task

of a client advisor.”

Counts on stability: Thomas Piske, CEO LGT Private Banking.

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Thomas Piske, born in 1958, has fulfilled various functions for LGT

since 1986. These have included Chairman of the Executive Board of

LGT Bank in Liechtenstein and President of the Liechtenstein Bankers

Association. Since October 2006, he has been CEO of LGT Group’s

global Private Banking.

That’s because private banking is a very emotional business and

requires a great deal of empathy and sensitivity. It requires a

lot of trust in a bank partner for a client to place his frequently

hard-earned assets in someo-

ne else’s hands. After all, the

client is delegating a certain

amount of control to the bank.

Criticism is often heard in the

financial services industry that

client advisors often attempt

to impress clients with their

knowledge instead of analyzing

their needs. “Listening proper-

ly is the most important task of

a client advisor”, he therefore

stresses.

Satisfied clients are not enough

for Thomas Piske – he wants

them to be inspired. Knowing

a client’s expectations is a pre-

requisite for a long-term relati-

onship. And this includes being

able to ask the client critical

questions: “There is no such

thing as top performance with

zero risk.” Risk and return cha-

racteristics have to be careful-

ly weighed against each other.

Moreover, LGT is not a com-

pa ny which aggressively markets its own products. “For the

client we always seek the best possible solution available on

the market.”

In his 26 years in the industry, private banking has changed

drastically. The business environment has become more dif-

ficult but at the same time more interesting and challenging. “At

present we have to spend too much time dealing with the imple-

mentation of legal regulations and therefore there is less time

to discuss the needs of clients”, says Thomas Piske reflectively.

Add to this the fact that the requirements of clients have also

changed. “The present generation is more demanding. They are

better educated, better informed and have a more extensive

network”, he opines. Consequently, more demands are made on

client advisors. “I demand a lot from my staff and sometimes I

forget to let them know how well they have performed”, he ad-

mits. But Thomas Piske also encourages and fosters his staff: he

is the co-initiator of the Private Banking Master Program, a kind

of internal university for LGT client advisors. Here they not only

gain the necessary professional skills, they also learn how to

take care of – and inspire – clients. “Typically LGT.” Thomas Piske

himself is a tutor, pleased to pass on his wealth of experience

and knowledge to young client advisors. As a very experienced

banker, Thomas Piske is a role model and an opinion-leader.

Nevertheless, he is still a modest and down-to-earth man. “It’s

the individual that matters to me,” he says. His credo: Under-

stand clients and inspire them.

The client advisor Philipp Ackermann exchanges views with Thomas Piske.

“There is no such thing as top performance with zero risk.”