LGT Group, based in Vaduz, Liechtenstein, recently acquired Abrdn Plc’s discretionary fund management business in the UK, one of at least three outside investments since 2021. However, the company remains primarily focused on organic growth. The rapid expansion reflects Liechtenstein’s recovery. The country with a population of just 39,000 was once one of the world’s worst tax havens but has since changed its financial landscape, reports said. Bloomberg.
LGT Group is actively recruiting and attracting talent from organizations such as Credit Suisse following its acquisition by UBS Group AG earlier this year.
This strategic growth Hans Adam II. The prince was raised to 215th place on the Bloomberg Billionaires Index, with an estimated wealth of $9.2 billion.
Unlike many European monarchs, the Duke personally owns his family’s most valuable assets, making them the oldest holdings in Bloomberg’s wealth rankings.
The royal family’s wealth can be traced back to land purchases in the 12th century and the purchase of LGT in the 1930s. secondly. Prince Hans Adam took office in the 1970s and successfully expanded his company internationally. Aside from LGT, the family owns land, real estate and an impressive art collection, but the engine of their success is their financial empire.
In 2023 alone, LGT shares have jumped nearly 25%, outperforming the MSCI World Bank Index.
Liechtenstein, once known for its bank secrecy laws like neighboring Switzerland, has increased transparency in recent years. This shift came after Germany used data stolen from LGT to prosecute tax evaders in 2008. LGT Group lost many clients during this period, but the trend reversed in 2010 and it saw significant net inflows in subsequent years.
Because the second. Max, the second eldest son of Prince Hans-Adam, is chairman of the LGT Group, with the family continuing to play a key role in major financial decisions, including the acquisition of UBS’s wealth management business in Austria in 2021, Crestone in Australia, and Validus. . Wealth in India and Hamburg in Germany in 2022. In launching a private banking office. While the company remains committed to global expansion, its immediate focus is growth within existing regions.
Cover image: II. Prince Hans-Adam. Source: API/Gamma-Rapho via Getty Images.
