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LGT Group is the largest family-owned
private banking Private banking is banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs)—defined as those with very high levels of income or sizable assets. A bank that ...
and
asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...
group in the world. LGT, originally known as The Liechtenstein Global Trust, is owned by the
princely House of Liechtenstein The House of Liechtenstein, from which the principality takes its name, is the family which reigns by hereditary right over the principality of Liechtenstein. Only dynastic members of the family are eligible to inherit the throne. The dynasty's me ...
through the
Prince of Liechtenstein Foundation The Prince of Liechtenstein Foundation is a portfolio of private companies, museums, and art collections owned by the Princely Family of Liechtenstein. It is essentially a cap for a multitude of investments, such as the LGT Group, the ''Hofkell ...
and led by its family members H.S.H. Prince Max von und zu Liechtenstein (CEO) and H.S.H. Prince Philipp von und zu Liechtenstein (chairman).


Organization

LGT is headquartered in Vaduz, Liechtenstein, with a key presence in Zurich, Switzerland. The company maintains 3,405 employees in over 20 offices around the globe,
Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an are ...
,
Australia Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. With an area of , Australia is the largest country by ...
,
Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...
, the
Middle East The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabian Peninsula, Arabia (including the Arabian Peninsula and Bahrain), Anatolia, Asia Minor (Asian part of Turkey except Hatay Pro ...
and
North America North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and th ...
. LGT operates through several divisions: *
Private Banking Private banking is banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs)—defined as those with very high levels of income or sizable assets. A bank that ...
- LGT Private Banking provides wealth management services to private clients * Alternative Asset Management - LGT Capital Partners is an
alternative investment An alternative investment, also known as an alternative asset or alternative investment fund (AIF), is an investment in any asset class excluding stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as ...
manager, with around $60 billion of capital invested in investment funds,
hedge funds A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as ...
and
private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...
investments * Philanthropy and Impact Investing - LGT invests in social enterprises such as M-kopa through the LGT Venture Philanthropy Foundation and LGT Impact. The company has made several
acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...
of high value transactions. In 2009, it acquired the Swiss operation of
Dresdner Bank Dresdner Bank AG was a German bank and was based in Frankfurt. It was one of Germany's largest banking corporations and was acquired by competitor Commerzbank in May 2009. History 19th century The Dresdner Bank was established on 12 Novembe ...
from
Commerzbank Commerzbank AG () is a major German bank operating as a universal bank, headquartered in Frankfurt am Main. In the 2019 financial year, the bank was the second largest in Germany by the total value of its balance sheet. Founded in 1870 in Hambur ...
, following this in 2015 it acquired more than $12 billion of HSBC Private assets and in 2017 it acquired Dutch giant ABN AMRO Asia Private with $20 billion in assets. The ABN AMRO transaction meant that LGT now had more assets under management in Asia than it did in Europe.


History

LGT Group traces its history back to 1920, when Bank in Liechtenstein (BIL) was founded with the objective to attract capital for the economic development of the Principality of Liechtenstein. In May 1921, BIL launched its operations with 10 employees based in ground-floor offices inside the main government building. During the global economic crisis in the 1930s, BIL and its shareholders were confronted with major problems, leading the
Princely House of Liechtenstein The House of Liechtenstein, from which the principality takes its name, is the family which reigns by hereditary right over the principality of Liechtenstein. Only dynastic members of the family are eligible to inherit the throne. The dynasty's me ...
to acquire a controlling interest in the bank. Until the 1960s, the bank’s main focus was to support and provide financing for the expansion of Liechtenstein’s economy and business sector. BIL did so primarily through the provision of financial services and loans. Over time, however, the commercial opportunities available to it in the local economy became too narrow, leading it to grow its operations to become an international commercial bank. Following this transformation, BIL began to expand into various segments of the banking industry, with a particular focus on activities pertaining to mortgages, stock markets and foreign exchange. In 1970, the bank's share capital was taken over by the recently established
Prince of Liechtenstein Foundation The Prince of Liechtenstein Foundation is a portfolio of private companies, museums, and art collections owned by the Princely Family of Liechtenstein. It is essentially a cap for a multitude of investments, such as the LGT Group, the ''Hofkell ...
. During the 1980s, BIL opened representative offices in Europe, the US and Asia, including in London, which was its first foreign business base, and in Hong Kong in 1986. In 1986, BIL went public and in 1989, acquired GT Management PLC in London. In 1990, BIL GT Group AG was founded and H.S.H. Prince Philipp became Chairman of the Board of Directors. Six years later, BIL GT Group was renamed Liechtenstein Global Trust and BIL became LGT Bank in Liechtenstein AG. In 1998, the GT Asset Management division was sold and the bank went private. It was then that LGT decided to focus on private banking and asset management and to further expand its international operations. In 2003, LGT acquired Schweizerische Treuhandgesellschaft STG from
Swiss Life The Swiss Life Group is the largest life insurance company of Switzerland and one of Europe’s leading comprehensive life and pensions and financial services providers, with approximately CHF 276.3 bn of assets under management. Founded in 185 ...
, opened LGT Bank Deutschland & Co. OHG and was granted a banking license in
Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...
. Over the next four years, it launched LGT Bank Switzerland and opened LGT Bank Österreich. In 2006, H.S.H. Prince Max von und zu Liechtenstein became CEO. LGT Venture Philanthropy, an independent charitable foundation, was founded in 2007, on the initiative of LGT CEO H.S.H. Prince Max von und zu Liechtenstein. In 2009, LGT sold its trust and fiduciary division (LGT Treuhand) to First Advisory Group and acquired the Swiss operation of
Dresdner Bank Dresdner Bank AG was a German bank and was based in Frankfurt. It was one of Germany's largest banking corporations and was acquired by competitor Commerzbank in May 2009. History 19th century The Dresdner Bank was established on 12 Novembe ...
. In 2011, it sold LGT Bank Deutschland & Co. OHG. In the years that followed, LGT opened a branch in Salzburg, Austria (2012), as well as LGT Middle East in Dubai (2013). Between 2012 and 2017, LGT acquired several new portfolios and operations, including Clariden Leu’s ILS boutique (2012), a
private banking Private banking is banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs)—defined as those with very high levels of income or sizable assets. A bank that ...
portfolio from
HSBC HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tr ...
in
Switzerland ). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
(2014), a majority stake in London-based wealth management partnership Vestra Wealth (2016), the private banking operations of ABN AMRO Asia in Asia and the Middle East (2016) and European Capital Fund Management (2017). In 2019, LGT opened a branch in Thailand (LGT Securities Thailand) and also entered the Indian market through the acquisition of a majority stake in Validus Wealth (FDI approval pending). Later that year, the group acquired Aspada, a leading India-focused investment fund which was previously owned by the Soros Economic Development Fund (SEDF) as a sole shareholder, to expand its impact investing platform LGT Lightstone. In December 2020, LGT group announced changes in its executive board. By 2021, Prince Maximilian of Liechtenstein assumed the chairmanship of the foundation board. Meanwhile, the former CFO of Private Banking took over the private banking branch as CEO. At the end of 2021, the current group structure will be dissolved. Since 2022 LGT Bank offers select clients direct investments in
bitcoin Bitcoin (abbreviation: BTC; sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distr ...
and another
cryptocurrency A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It i ...
through a partnership with SEBA Bank.


Controversy

The German tax authorities commenced numerous audits and prosecutions for tax fraud in the tax haven of Liechtenstein, based on information on a
compact disc The compact disc (CD) is a digital optical disc data storage format that was co-developed by Philips and Sony to store and play digital audio recordings. In August 1982, the first compact disc was manufactured. It was then released in O ...
acquired by the German secret service
Bundesnachrichtendienst The Federal Intelligence Service (German: ; , BND) is the foreign intelligence agency of Germany, directly subordinate to the Chancellor's Office. The BND headquarters is located in central Berlin and is the world's largest intelligence h ...
. The CD, containing large amounts of information on accounts held by German citizens and other nationals with the bank, was allegedly obtained for a sum of €4 million from a former employee or contractor of the bank. Information was also forwarded to many other European states and Australia, leading to successful investigations there.


Rating

Rating A rating is an evaluation or assessment of something, in terms of quality, quantity, or some combination of both. Rating or ratings may also refer to: Business and economics * Credit rating, estimating the credit worthiness of an individual, ...
:
Standard & Poor's S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is con ...
/
Moody's Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides internationa ...
(2017) * A+ / Aa2


Locations


Europe

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Austria Austria, , bar, Östareich officially the Republic of Austria, is a country in the southern part of Central Europe, lying in the Eastern Alps. It is a federation of nine states, one of which is the capital, Vienna, the most populous ...
:
Vienna en, Viennese , iso_code = AT-9 , registration_plate = W , postal_code_type = Postal code , postal_code = , timezone = CET , utc_offset = +1 , timezone_DST ...
,
Salzburg Salzburg (, ; literally "Salt-Castle"; bar, Soizbuag, label=Austro-Bavarian) is the fourth-largest city in Austria. In 2020, it had a population of 156,872. The town is on the site of the Roman settlement of ''Iuvavum''. Salzburg was founded ...
*
France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...
:
Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. Si ...
*
Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwee ...
:
Frankfurt am Main Frankfurt, officially Frankfurt am Main (; Hessian: , " Frank ford on the Main"), is the most populous city in the German state of Hesse. Its 791,000 inhabitants as of 2022 make it the fifth-most populous city in Germany. Located on it ...
*
Ireland Ireland ( ; ga, Éire ; Ulster-Scots: ) is an island in the North Atlantic Ocean, in north-western Europe. It is separated from Great Britain to its east by the North Channel, the Irish Sea, and St George's Channel. Ireland is the s ...
:
Dublin Dublin (; , or ) is the capital and largest city of Ireland. On a bay at the mouth of the River Liffey, it is in the province of Leinster, bordered on the south by the Dublin Mountains, a part of the Wicklow Mountains range. At the 2016 ...
*
Liechtenstein Liechtenstein (), officially the Principality of Liechtenstein (german: link=no, Fürstentum Liechtenstein), is a German language, German-speaking microstate located in the Alps between Austria and Switzerland. Liechtenstein is a semi-constit ...
:
Vaduz Vaduz ( or , High Alemannic pronunciation: [])Hans Stricker, Toni Banzer, Herbert Hilbe: ''Liechtensteiner Namenbuch. Die Orts- und Flurnamen des Fürstentums Liechtenstein.'' Band 2: ''Die Namen der Gemeinden Triesenberg, Vaduz, Schaan.'' Hrsg. ...
*
Switzerland ). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
:
Basel , french: link=no, Bâlois(e), it, Basilese , neighboring_municipalities= Allschwil (BL), Hégenheim (FR-68), Binningen (BL), Birsfelden (BL), Bottmingen (BL), Huningue (FR-68), Münchenstein (BL), Muttenz (BL), Reinach (BL), Riehen (B ...
,
Bern german: Berner(in)french: Bernois(e) it, bernese , neighboring_municipalities = Bremgarten bei Bern, Frauenkappelen, Ittigen, Kirchlindach, Köniz, Mühleberg, Muri bei Bern, Neuenegg, Ostermundigen, Wohlen bei Bern, Zollikofen , website ...
,
Davos , neighboring_municipalities= Arosa, Bergün/Bravuogn, Klosters-Serneus, Langwies, S-chanf, Susch , twintowns = } Davos (, ; or ; rm, ; archaic it, Tavate) is an Alps, Alpine resort town and a Municipalities of Switzerland, muni ...
,
Geneva Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevra ; rm, Genevra is the second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaking part of Switzerland. Situa ...
,
Lugano Lugano (, , ; lmo, label= Ticinese, Lugan ) is a city and municipality in Switzerland, part of the Lugano District in the canton of Ticino. It is the largest city of both Ticino and the Italian-speaking southern Switzerland. Lugano has a populat ...
, Pfäffikon, Zurich *
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and ...
:
Bristol Bristol () is a City status in the United Kingdom, city, Ceremonial counties of England, ceremonial county and unitary authority in England. Situated on the River Avon, Bristol, River Avon, it is bordered by the ceremonial counties of Glouces ...
,
London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
*
Jersey Jersey ( , ; nrf, Jèrri, label= Jèrriais ), officially the Bailiwick of Jersey (french: Bailliage de Jersey, links=no; Jèrriais: ), is an island country and self-governing Crown Dependency near the coast of north-west France. It is the ...


Other locations

*
Australia Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. With an area of , Australia is the largest country by ...
:
Sydney Sydney ( ) is the capital city of the state of New South Wales, and the most populous city in both Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Sydney Harbour and extends about towards the Blue Mounta ...
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Bahrain Bahrain ( ; ; ar, البحرين, al-Bahrayn, locally ), officially the Kingdom of Bahrain, ' is an island country in Western Asia. It is situated on the Persian Gulf, and comprises a small archipelago made up of 50 natural islands and a ...
:
Manama Manama ( ar, المنامة ', Bahrani pronunciation: ) is the capital and largest city of Bahrain, with an approximate population of 200,000 people as of 2020. Long an important trading center in the Persian Gulf, Manama is home to a very d ...
*
China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...
:
Beijing } Beijing ( ; ; ), Chinese postal romanization, alternatively romanized as Peking ( ), is the Capital city, capital of the China, People's Republic of China. It is the center of power and development of the country. Beijing is the world's Li ...
,
Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...
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Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the n ...
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Tokyo Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, with an estimated 37.46 ...
*
Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...
* UAE:
Dubai Dubai (, ; ar, wikt:دبي, دبي, translit=Dubayy, , ) is the List of cities in the United Arab Emirates#Major cities, most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 ...
*
United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...
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New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...


External links


Official Website
*


References

* {{Authority control Financial services companies established in 1920 Banks of Liechtenstein Banks established in 1920 Private banks Private equity firms of Europe Investment management companies of Liechtenstein Organizations based in Vaduz Brands of Liechtenstein