The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Surveys

Private banking 2012: Finasta Asset Management – Lithuania

"When it comes to managing portfolios, Finasta holds around 50% of the market share in Lithuania," says Andrius Barštys, chief executive and chairman. "There is quite tough competition in the Baltics in private banking, especially among the Scandinavian banks, but their major weakness is the lack of attention to personal client needs," he says.

Indeed, Barštys claims that global banks in the region are not adjusted to the local market: "The investment products [global] private bankers propose have their origins in Scandinavia and do not always fit in with the investment strategy clients in Lithuania are ready for," he says.

"Finasta has access to the richest Lithuanians and we adapt: we were not known for our conservative investments before 2008, but as investor sentiment grew cautious, we adapted our model to fit our clients’ needs."

"Finasta Asset Management has acquired four local companies to become what it is today; the brokerage company section of Finasta has made six acquisitions in its lifetime.

"The small size of our branch network is the major lack of Finasta’s private banking service," Barštys says.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree