Acquisitions boost LGT Group's plans to expand in Europe and Asia

LGT Group, owned by the Princely Family of Liechtenstein, targets the upper end of the high net worth individual market.

Henri Leimer, chief executive officer of LGT Investment Management Asia, says clients require advice 'not only in investment areas but also in wealth management and asset protection with regards to structuring their local or global assets'.

Recently, LGT Group chose to expand through acquisitions. Last year, it acquired Ernst & Young's trust business, Guardian Trustee, and formed its own unit, LGT Management Services, to contain the new operation.

In May, the LGT Group acquired STG Schweizerische Treuhandgesellschaft and all of its subsidiaries from Swiss Life. Mr Leimer says the STG acquisition was an appropriate one.

'We want to expand in Europe and in Asia. STG is mainly involved in professional advisory and wealth management services. It specialises in fiduciary services, advising on tax issues, and setting up trusts and foundations.

'The acquisition was a way of strengthening LGT's group capabilities and capacities in this particular area. It would not make sense for us to acquire, for instance, another bank and just broaden expertise that LGT already had. We preferred to add on to and broaden the overall wealth management service.'

He says STG is an ideal addition to the LGT Group, in terms of core competencies and regional market presence. STG's main attraction was its fiduciary, fiscal and legal advisory services, which will help the LGT Group to expand its expertise in the trust area.