Dec 6, 2016
LGT today announced that it has reached an agreement with ABN AMRO to acquire its private banking business in Hong Kong, Singapore and Dubai with approx. USD 20 billion in assets under management. The acquisition by way of an asset purchase agreement marks a major step in the implementation of LGT’s growth strategy and will further enhance its strong footprint in Asia and the Middle East. As a result of the transaction, LGT expects to increase its assets under management to more than USD 40 billion in Asia and to approx. USD 160 billion overall.
Nov 30, 2016
LGT achieved an outstanding result in this year's Handelsblatt Elite Report assessment and received the highest score among wealth managers in German-speaking countries. At yesterday evening’s Asset Convention in Munich, LGT was also designated the leading private bank in Liechtenstein.
Nov 22, 2016
LGT impressed the testers of the prestigious Fuchsbriefe this year with a consistently high level of performance in all areas and in multiple countries. In the overall ranking, the international private banking and asset management group was awarded an outstanding second place standing from among all the financial institutions that were tested, and is thus one of the top leading wealth managers in German-speaking countries. In Liechtenstein, LGT was once again recognized as the best private bank in 2016.
Dec 9, 2016
The European Central Bank (ECB) yesterday left the refinancing (0.0%) and the deposit (-0.4%) rate unchanged, as expected by analysts, but surprised markets by reducing the amount of monthly bond purchases as of April 2017 by EUR 20bn per month. ECB president Mario Draghi said the ECB will extend asset purchases at least until December 2017 but lowering the monthly amount to EUR 60bn starting April 2017, down from the current EUR 80bn.
Dec 8, 2016
Equity and bond markets seem to prepare for today’s meeting of the European Central Bank (ECB) over the last two days as banks were leading equity indices in Europe and sovereign bonds advanced on falling yields. Market participants appear to speculate on a prolonged bond-buying program in the Eurozone.