A Look Into LGT’s Booming Assets Management Business

As far as the world of finance is concerned, there are few names as prestigious as LGT Group. This private banking and asset-management firm, based in the small Alpine nation of Liechtenstein, has built a finance empire that is now worth an impressive $300 billion. Led by Liechtenstein’s Prince Hans-Adam II, LGT has established itself as a powerhouse in managing the wealth of the world’s super-rich. In this article, we will take a closer look at LGT’s remarkable success and explore the factors that have contributed to its booming asset management business.

A Long-Standing Legacy

LGT Group’s history dates back almost a millennium, making it one of the oldest financial institutions in the world. The royal family of Liechtenstein has played a central role in the firm’s operations, with Prince Hans-Adam II leading the way. Despite facing significant challenges over the years, including wars, floods, and scandals, the royal family and LGT have managed to endure and thrive.

Managing Money for the Super-Rich

LGT Group’s primary area of expertise lies in managing the wealth of the world’s super-rich. With a client base that includes high-net-worth individuals, families, and institutions, LGT has established itself as a trusted partner in preserving and growing wealth. The firm offers a range of services, including private banking, investment advisory, and asset management, tailored to meet the unique needs and goals of its clients.

Record Assets Under Management

LGT Group’s success is evident in its record assets under management (AUM). As of June 30, the firm reported AUM of nearly 306 billion Swiss francs ($334 billion), representing a 6% increase since the end of the previous year. This growth is a testament to LGT’s ability to attract and retain clients, as well as its expertise in navigating the ever-changing financial landscape.

Expanding Global Presence

LGT Group’s success can also be attributed to its strategic expansion efforts. The firm has made several key acquisitions in recent years, further solidifying its position in the global financial market. One notable example is the purchase of Abrdn Plc’s discretionary fund-management business in the UK and Jersey. This acquisition, along with other external investments, has helped LGT broaden its reach and diversify its offerings.

Organic Growth Focus

While LGT Group has been actively pursuing strategic acquisitions, its primary focus remains on organic growth. The firm is committed to delivering exceptional service to its existing clients and attracting new clients through its reputation and expertise. This commitment to organic growth is reflected in its continuous hiring efforts, including the recruitment of former Credit Suisse staff after the bank’s collapse and acquisition by UBS Group AG.

Prince Hans-Adam’s Rising Wealth

LGT Group’s success has not only benefited its clients but also its sole beneficiary, Prince Hans-Adam II. With the firm’s rapid growth, the prince’s wealth has also soared. According to the Bloomberg Billionaires Index, Prince Hans-Adam II is now ranked as the world’s 215th richest person, with a fortune of approximately $9.2 billion. This rise in wealth further solidifies his status as Europe’s richest royal.

Contributing to Liechtenstein’s Comeback

LGT Group’s remarkable growth mirrors the resurgence of Liechtenstein as a financial hub. The nation, once known as a notorious tax haven, has successfully rebounded from the aftermath of the 2008 financial crisis. LGT Group’s success has played a significant role in this comeback, attracting talent from other financial institutions and contributing to Liechtenstein’s economic growth.

LGT Group’s booming asset management business is a testament to the firm’s expertise, strategic expansion, and commitment to delivering exceptional service to its clients. Led by Liechtenstein’s Prince Hans-Adam II, LGT has built a finance empire worth $300 billion, managing the wealth of the world’s super-rich. With its record assets under management and focus on organic growth, LGT is poised to continue its impressive trajectory in the global financial market.