LGT Group

from Wikipedia, the free encyclopedia
  LGT Group
(LGT Bank AG)
logo
Country LiechtensteinLiechtenstein Liechtenstein
Seat Vaduz
legal form Corporation
IID 8810
BIC BLFLLI2XXXX
founding November 22, 1920
Website www.lgt.com
Business data 2017
Total assets 41.9 billion CHF
Employee 3,188
management
Corporate management

SD Prince Maximilian von und zu Liechtenstein

The LGT is an international financial services company based in Vaduz in the Principality of Liechtenstein . The Private Banking and Asset Management Group is owned by the Princely House of Liechtenstein , which also runs LGT personally. SD Prince Maximilian von und zu Liechtenstein is CEO of LGT and Prince Philipp von und zu Liechtenstein is Chairman of LGT. As of December 31, 2017, LGT had assets under management of CHF 201.8 billion. The abbreviation LGT stood for "Liechtenstein Global Trust".

history

After the constituent general assembly of November 22, 1920, the bank in Liechtenstein started its business activities in May 1921 with ten employees, rented on the ground floor of the government building.

In 1930 the Princely House of Liechtenstein took over the majority of the shares. The Prince of Liechtenstein Foundation was established in 1970 and has held the share capital of the bank in Liechtenstein ever since.

In 1986 the bank went public in Liechtenstein and opened a representative office in Hong Kong in the same year . In 1989 the bank took over GT Management plc in London and in the following year founded BIL GT Gruppe AG , based in Vaduz. In 1990 SD Prince Philipp von und zu Liechtenstein became President of the Board of Trustees.

In 1998 LGT GT was sold and the LGT Group was re-privatized. LGT decided to focus on international growth in the future and also formed the Princely Strategy. The company has been operating under the new LGT brand since 1999 and focuses on private banking and asset management.

In the following years, LGT expanded its onshore business in the European core markets as well as in international growth markets such as with a foreign branch in Singapore. In 2003, LGT took over the Swiss Trust Company from Swiss Life . By 2007, further branches will be opened in Vienna , Montevideo , Bahrain and Lucerne . The were LGT Bank (Switzerland) AG , the LGT Bank (Austria) AG and LGT Venture Philanthropy was founded. In 2006, SD Prinz Max von und zu Liechtenstein became CEO of LGT.

In 2009 LGT separated from the fiduciary area. The business area is now private banking and asset management. In the same year, it announced the takeover of Dresdner Bank (Switzerland) by LGT Bank (Switzerland) AG.

In April 2011, the German banking supervisory authority (Bafin) prevented the sale of the BHF-Bank to LGT "out of doubts about the prospective buyer" which are said to have arisen during the legally prescribed owner control procedure. LGT Group then withdrew from Germany . In December 2011, LGT announced that the German private bank Delbrück Bethmann Maffei (subsidiary of the Dutch ABN AMRO Bank ) would take over 100 percent of the shares in LGT Bank Germany .

Also in 2011, LGT Group celebrated its 25th anniversary in Asia and received a banking license for Hong Kong. A year later, the LGT branch in Salzburg and in 2013 a subsidiary in Dubai were opened.

In 2014 LGT Bank (Schweiz) AG took over a selected private banking portfolio from HSBC Private Bank Suisse and in 2016 LGT took over a significant majority stake in Vestra Wealth LLP, a wealth management boutique based in London. In 2017 LGT successfully completed the acquisition of the private banking business of ABN AMRO in Hong Kong, Singapore and Dubai as well as the business of European Capital Fund Management.

In 2019, LGT Group took over Indian impact investor Aspada, which had previously been part of George Soros ' Economic Development Fund. With this purchase, LGT hoped to expand its own impact investment platform, LGT Lightstone.

Also in 2019, LGT Group announced that it would reopen an office in Germany and thus start up its investment activities on the German market.

Corporate structure

As the parent company, LGT employs a total of over 3,000 people at more than 20 locations in Europe, Asia, America and the Middle East. It is divided into several individual companies including:

society Headquarters Locations
LGT Bank AG LiechtensteinLiechtenstein Vaduz , Liechtenstein Vaduz , Bendern , Zurich , Geneva , Lugano , Chur , Davos
LGT Bank (Switzerland) AG SwitzerlandSwitzerland Basel , Switzerland Basel , Bern , Zurich , Lugano , Geneva , Dubai
LGT Bank AG, branch (Austria) AustriaAustria Vienna , Austria Vienna , Salzburg
LGT Bank (Singapore) Ltd. SingaporeSingapore Singapore Singapore
LGT Bank (Hong Kong) Hong KongHong Kong Hong Kong Hong Kong
LGT Capital Partners AG SwitzerlandSwitzerland Pfäffikon SZ, Switzerland Pfäffikon , New York , Dublin , London , Dubai , Beijing , Hong Kong , Tokyo , Sydney
LGT Capital Partners (FL) AG LiechtensteinLiechtenstein Vaduz , Liechtenstein Vaduz
LGT Vestra United KingdomUnited Kingdom London , UK London , Bristol , Jersey
LGT Impact Ventures SwitzerlandSwitzerland Zurich , Switzerland Zurich
LGT Venture Philanthropy SwitzerlandSwitzerland Zurich , Switzerland Zurich
LGT Financial Services AG LiechtensteinLiechtenstein Vaduz , Liechtenstein Benders
More locations: Bahrain , Ireland , Japan

2008 tax affair

Several hundred customers of LGT Treuhand, a former subsidiary of the LGT Group, were targeted by German tax investigators in February 2008. According to government information, this is a four-digit number of suspects who are said to have evaded taxes in the millions . A spokesman for the Federal Minister of Finance at the time, Peer Steinbrück , said it was being investigated against “a very, very large number of well-known and lesser-known“ service providers ”for tax evasion to Liechtenstein”. The Ministry of Finance advised those affected to report themselves , which is what German criminal law provides. The Bochum public prosecutor's office confirmed that several hundred criminal proceedings are pending at the authority. According to the Handelsblatt , massive amounts of documents were sent from LGT Treuhand. In a press release, the bank confirmed that there had been a “ data theft ” at subsidiary LGT Treuhand in 2002 .

On its website in 2008, LGT presented its view of how the data theft should have happened in 2002 and also provided information about the alleged perpetrator, the Liechtenstein citizen Heinrich Kieber , who had previously been wanted by international investigators on suspicion of fraud .

On December 16, 2010, German criminal proceedings against the LGT Group and its former subsidiary LGT Treuhand for payment of around 46 million euros to the German treasury were discontinued. Christof Buri, media spokesman for the LGT Group, emphasized that the agreement was not associated with an acknowledgment of guilt by the persons concerned or LGT. Reuters called the termination of the proceedings as indulgences .

Web links

swell

Individual evidence

  1. ↑ a b Entry in the bank master of Swiss Interbank Clearing
  2. ↑ [1]
  3. ↑ "Our family has personally controlled and managed the company for over 80 years." LGT is the largest private banking and asset management group in Europe, which is run entirely by a family of entrepreneurs ... , online under Archived Copy ( Memento from April 26, 2012 in the Internet Archive )
  4. ↑ Rejection to the prince. April 18, 2011, accessed February 3, 2020 .
  5. ↑ a b LGT wants to go back to Germany. March 18, 2019, accessed on February 3, 2020 (German).
  6. ↑ Bethmann Bank completes acquisition of LGT Bank Germany ( Memento from January 20, 2014 in the Internet Archive ), News Aktuell press portal accessed on February 25, 2013
  7. ↑ a b LGT buys George Soros Fund Impact Investor. Retrieved February 3, 2020 .
  8. ↑ cf. Annual Report 2016, LGT Group - Private Banking & Asset Management Group of the Princely House of Liechtenstein. Annual Report 2016 , online at http://www.lgt.com/shared/.content/publikationen/unternehmensportraets/Untern Firmenportraet_Group_de.pdf
  9. ↑ Tagesschau: Countless celebrities in the sights of the public prosecutor? (tagesschau.de archive)
  10. ↑ Suspected disclosure of stolen customer data from LGT Treuhand AG in Vaduz in 2002 ( memo of November 17, 2008 in the Internet Archive ), LGT Group, of February 15, 2008, last accessed on September 29, 2011
  11. ^ Spiegel Online: Investigators have appeased data up to 2005 - Liechtensteiner Fürstenbank
  12. ↑ LGT: Illegally passed on data is limited to the customer data stolen from LGT Treuhand in 2002 ( memo from May 1, 2008 in the Internet Archive ), LGT Group, from February 24, 2008, accessed on September 29, 2011.
  13. ↑ Sven Prange: The man who stole the tax data . In: Handelsblatt , February 25, 2008, accessed on June 25, 2018.
  14. ↑ Reuters / sda: Trading in indulgences with Liechtenstein - banks end tax proceedings with fines , Neue Zürcher Zeitung , December 16, 2010, last accessed on September 29, 2011

Coordinates: 47 ° 8 '31.4 "  N , 9 ° 31' 13.4"  E ; CH1903:  757,893  /  223,326