LGT Buys ABN Amro’s Asian Private Banking Business
LGT has bought ABN Amro’s private banking business in Asia and Middle East for an undisclosed amount. LGT will expect to see its assets under management (AUM) increase to over $US40 billion and US$160 billion overall. The employees from ABN Amro will be transferred to LGT’s regional entities in Hong Kong, Singapore and Dubai respectively and will look after their clients.
LGT’s chief executive has said the acquisition will allow the bank to further extend its market position and achieve further profitable growth.
About Liechtenstein Global Trust
Liechtenstein Global Trust (LGT) is the largest Private Banking and Asset Management group in the world to be owned by an entrepreneurial family — family office of the Princely House of Liechtenstein. Established in 1920, today it operates in 21 locations worldwide with Private Banking and Asset Management as the core businesses. Based on the excellent ratings by Moody’s and Standard & Poor’s the magazine Global Finance named LGT in 2015 as one of the 50 safest banks worldwide, LGT being one of four banks from Switzerland and Liechtenstein on the list.
- Origin : Vaduz, Liechtenstein
- Assets : CHF 34.24 billion
- Revenue : CHF 1.15 billion
- Employees : 2,515
Official Website: www.lgt.com
News & Media: Press Release
Updated on 8th August 2016