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LGT has successfully completed the acquisition of ABN AMRO’s private banking business in Hong Kong, Singapore and Dubai announced on 6 December 2016. As a result of the transaction, LGT’s assets under management have grown to about USD 50 billion in Asia (including Middle East) and around USD 180 billion overall as per the end of April 2017.
LGT has successfully completed the acquisition of ABN AMRO’s private banking business in Asia and the Middle East on 30 April 2017 with the timely and seamless integration of client relationships and staff in Hong Kong, Singapore and Dubai. The acquired business includes almost USD 20 billion in assets under management as well as over 300 employees, of which more than 200 are front office staff.
H.S.H. Prince Max von und zu Liechtenstein, CEO of LGT: "This acquisition has allowed us to significantly enhance our position in the attractive Asian and Middle Eastern growth markets. We expect to achieve further profitable growth from these platforms going forward. Thanks to our long-term oriented ownership structure and strategy, our strong capital base and our high-quality services in wealth and asset management, the transaction has been well received by clients and employees alike. We are pleased to welcome our new colleagues and clients to LGT."