LGT
Encyclopedia
Wealth management
Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services...
and asset management group of the princely House of Liechtenstein
Princely Family of Liechtenstein
The Liechtenstein dynasty, from which the principality takes its name, is the family which reigns by constitutional, hereditary right over the nation 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
Prince of Liechtenstein Foundation
The Prince of Liechtenstein Foundation is a portfolio of private companies, and museums owned by the Princely Family of Liechtenstein. It is an essentially cap for a multitude of investments, such as the LGT Group, the Hofkellerei wineries, RiceTec Inc, and real estate holdings in Vienna, Austria...
.
LGT is headquartered in Liechtenstein
Liechtenstein
The Principality of Liechtenstein is a doubly landlocked alpine country in Central Europe, bordered by Switzerland to the west and south and by Austria to the east. Its area is just over , and it has an estimated population of 35,000. Its capital is Vaduz. The biggest town is Schaan...
with approximately 1,950 employees in 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 investorInstitutional investorInstitutional investors are organizations which pool large sums of money and invest those sums in securities, real property and other investment assets...
s and private clients - Alternative Asset Management - LGT Capital Partners is an alternative investment manager, with around $18.5 billion of capital invested in hedge fundHedge fundA hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
and private equityPrivate equityPrivate equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
investments
History
- 1920 Company founded
- 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 FoundationPrince of Liechtenstein FoundationThe Prince of Liechtenstein Foundation is a portfolio of private companies, and museums owned by the Princely Family of Liechtenstein. It is an essentially cap for a multitude of investments, such as the LGT Group, the Hofkellerei wineries, RiceTec Inc, and real estate holdings in Vienna, Austria...
, 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.
(Info can be found on the official website)
Controversy
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 BundesnachrichtendienstBundesnachrichtendienst
The Bundesnachrichtendienst [ˌbʊndəsˈnaːχʁɪçtnˌdiːnst] is the foreign intelligence agency of Germany, directly subordinated to the Chancellor's Office. Its headquarters are in Pullach near Munich, and Berlin . The BND has 300 locations in Germany and foreign countries...
. 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. Information was also forwarded to many other European states and Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, leading to successful investigations there.
Europe
- GermanyGermanyGermany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
: BerlinBerlinBerlin is the capital city of Germany and is one of the 16 states of Germany. With a population of 3.45 million people, Berlin is Germany's largest city. It is the second most populous city proper and the seventh most populous urban area in the European Union...
, CologneCologneCologne is Germany's fourth-largest city , and is the largest city both in the Germany Federal State of North Rhine-Westphalia and within the Rhine-Ruhr Metropolitan Area, one of the major European metropolitan areas with more than ten million inhabitants.Cologne is located on both sides of the...
, Frankfurt am Main, HamburgHamburg-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
, MannheimMannheimMannheim is a city in southwestern Germany. With about 315,000 inhabitants, Mannheim is the second-largest city in the Bundesland of Baden-Württemberg, following the capital city of Stuttgart....
, MunichMunichMunich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...
, StuttgartStuttgartStuttgart is the capital of the state of Baden-Württemberg in southern Germany. The sixth-largest city in Germany, Stuttgart has a population of 600,038 while the metropolitan area has a population of 5.3 million .... - LiechtensteinLiechtensteinThe Principality of Liechtenstein is a doubly landlocked alpine country in Central Europe, bordered by Switzerland to the west and south and by Austria to the east. Its area is just over , and it has an estimated population of 35,000. Its capital is Vaduz. The biggest town is Schaan...
: VaduzVaduzVaduz is the capital of the principality of Liechtenstein and the seat of the national parliament. The town, located along the Rhine, has about 5,100 inhabitants , most of whom are Roman Catholic. Its cathedral is the seat of a Roman Catholic archbishop....
and BendernBendernBendern is a village of Liechtenstein, located in the municipality of Gamprin.... - LuxembourgLuxembourgLuxembourg , officially the Grand Duchy of Luxembourg , is a landlocked country in western Europe, bordered by Belgium, France, and Germany. It has two principal regions: the Oesling in the North as part of the Ardennes massif, and the Gutland in the south...
: Luxembourg City - AustriaAustriaAustria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
: ViennaViennaVienna is the capital and largest city of the Republic of Austria and one of the nine states of Austria. Vienna is Austria's primary city, with a population of about 1.723 million , and is by far the largest city in Austria, as well as its cultural, economic, and political centre... - SwitzerlandSwitzerlandSwitzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
: BaselBaselBasel or Basle In the national languages of Switzerland the city is also known as Bâle , Basilea and Basilea is Switzerland's third most populous city with about 166,000 inhabitants. Located where the Swiss, French and German borders meet, Basel also has suburbs in France and Germany...
, Bern, CharCharChar is the solid material that remains after light gases and tar coal tar have been driven out or released from a carbonaceous material during the initial stage of combustion, which is known as carbonization, charring, devolatilization or pyrolysis.Further stages of efficient combustion are...
, DavosDavosDavos is a municipality in the district of Prättigau/Davos in the canton of Graubünden, Switzerland. It has a permanent population of 11,248 . Davos is located on the Landwasser River, in the Swiss Alps, between the Plessur and Albula Range...
, ZurichZürichZurich is the largest city in Switzerland and the capital of the canton of Zurich. It is located in central Switzerland at the northwestern tip of Lake Zurich...
, LausanneLausanneLausanne is a city in Romandy, the French-speaking part of Switzerland, and is the capital of the canton of Vaud. The seat of the district of Lausanne, the city is situated on the shores of Lake Geneva . It faces the French town of Évian-les-Bains, with the Jura mountains to its north-west...
, LuganoLuganoLugano is a city of inhabitants in the city proper and a total of over 145,000 people in the agglomeration/city region, in the south of Switzerland, in the Italian-speaking canton of Ticino, which borders Italy...
, GenevaGenevaGeneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...
, PfäffikonPfäffikonPfäffikon may refer to:*Pfäffikon District, Canton of Zurich, Switzerland**Pfäffikon, Zurich , a municipality and capital of the district...
, SchwyzSchwyzThe town of is the capital of the canton of Schwyz in Switzerland.The Federal Charter of 1291 or Bundesbrief, the charter that eventually led to the foundation of Switzerland, can be seen at the Bundesbriefmuseum.-History of the toponym:...
, - IrelandIrelandIreland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
: Dublin - United KingdomUnited KingdomThe United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
: LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
Other Locations
- BahrainBahrain' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
: Manama TownManamaManama is the capital and largest city of Bahrain, with an approximate population of 155,000 people.Long an important trading center in the Persian Gulf, Manama is home to a very diverse population... - Hong KongHong KongHong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
- JapanJapanJapan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
: TokyoTokyo, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family... - SpainSpainSpain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
: MadridMadridMadrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan... - SingaporeSingaporeSingapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
- UruguayUruguayUruguay ,officially the Oriental Republic of Uruguay,sometimes the Eastern Republic of Uruguay; ) is a country in the southeastern part of South America. It is home to some 3.5 million people, of whom 1.8 million live in the capital Montevideo and its metropolitan area...
: MontevideoMontevideoMontevideo is the largest city, the capital, and the chief port of Uruguay. The settlement was established in 1726 by Bruno Mauricio de Zabala, as a strategic move amidst a Spanish-Portuguese dispute over the platine region, and as a counter to the Portuguese colony at Colonia del Sacramento... - USA: New YorkNew York CityNew York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
External links
- LGT Group (company website)
- The Princely House of Liechtenstein