LGT bank says remains on lookout for acquisitions
ZURICH (Reuters) – Liechtenstein-based wealth manager LGT [LGTGFB.UL] remains on the lookout for acquisitions even if its takeovers in the next decade slow from those in the past 10 years, Prince Max von und zu Liechtenstein told reporters on Monday.
“We are constantly on the move and evaluating what could be of interest,” the chief executive of the group owned by Liechtenstein’s princely family said, adding this applied to both private banking and asset management.
Acquisitions helped boost earnings last year. These included the 2016 purchase of ABN Amro’s private banking operations in Asia and the Middle East with $20 billion worth of assets under management.
Reporting by Angelika Gruber, Editing by Michael Shields