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LGT Group
Type Private
Founded 1920
Headquarters Liechtenstein
Industry Financial Services
Website www.lgt.com
LGT Bank in Liechtenstein, Head Office, Vaduz, Liechtenstein.

LGT Group is the private banking, wealth management and asset management group of the princely House of Liechtenstein. LGT, originally known as The Liechtenstein Global Trust, is the largest family-owned private wealth and asset manager in Europe, wholly-owned by the Prince of Liechtenstein Foundation.

LGT is headquartered in Liechtenstein with over 1,700 employees in more than 29 offices in Europe, Asia, the Middle East and the United States.

LGT, operates through several divisions:

  • Wealth Management - LGT Wealth Management International and LGT Private Bank provide wealth management services to private clients
  • Traditional Asset Management - LGT Capital Management provides investment opportunities for institutional investors and private clients
  • Alternative Asset Management - LGT Capital Partners is an alternative investment manager, with over $18 billion of capital invested in hedge fund and private equity investments

Contents

History

  • 1920 22 November: constituent general meeting of the Bank in Liechtenstein
  • 1921 In May, business activities commence with ten employees; rented offices on the ground floor of the government building
  • 1930 Liechtenstein Princely Family acquires the majority of shares
  • 1970 Establishment of the Prince of Liechtenstein Foundation, which takes over the Bank’s share capital as LGT Foundation beneficiary
  • 1982 Setting up of a Representative Office in London as the first foreign business base
  • 1983 Founding of Bilfinanz und Verwaltung AG, Zurich
  • 1984 Founding of BIL Treuhand AG, Vaduz
  • 1986 Bank in Liechtenstein goes public
  • 1989 Takeover of GT Management PLC, London
  • 1990 Founding of BIL GT Group AG, Vaduz
  • 1996 Change of name: BIL GT Group becomes Liechtenstein Global Trust and BiL becomes LGT Bank in Liechtenstein AG
  • 1998 Sale of Asset Management Division, Realignment of the LGT Group, HSH Prince Philipp becomes new Chairman of the Board of Trustees, Going private
  • 2003 LGT Group acquires Schweizerische Treuhandgesellschaft STG from Swiss Life
  • 2005 STG becomes LGT Schweizerische Treuhandgesellschaft
  • 2009 LGT sells its Trust and Fiduciary division (LGT Treuhand) to First Advisory Group.

Controversy

2008 Liechtenstein tax affair The German tax authorities commenced numerous audits and prosecutions for tax fraud in the tax haven Liechtenstein based on information on a CD acquired by the German secret service Bundesnachrichtendienst. 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 € 5 million from a former employee or contractor of the bank. [1] Information was also forwarded to many other European states and Australia, leading to successful investigations there.

Rating

Rating: Standard & Poor's / Moody's

  • AA- / Aa3

Locations

Europe

Other Locations

References

External links

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