LGT has agreed to acquire a controlling stake in Indian wealth manager Validus Wealth. This participation will enable the Liechtenstein banking group to gain a foothold in India’s market for high-net-worth private clients.

Founded in 2018, the wealth manager Validus Wealth employs more than 150 staff and has a presence in nine cities across India, LGT reports in its press release. The Vaduz banking group is owned by the Princely House of Liechtenstein and is planning to acquire “a controlling majority stake” in the Indian wealth management firm. Validus Wealth will consequently “become part of LGT Group and will be more closely aligned with the LGT brand”.

The remaining shares not acquired by LGT will be retained by Validus Wealth’s existing management team. The parties agreed not to disclose the financial details of the transaction, which is still subject to regulatory approval. Validus Wealth CEO Atul Singh will continue to lead the company once it is part of LGT Group.

“Validus Wealth represents an excellent opportunity for us to gain a foothold in the highly promising Indian market and work together over the coming years to expand the business, which is still very much in its infancy” commented LGT CEO Prince Max von und zu Liechtenstein, adding: “After opening a new office in Thailand in spring, this transaction will complement our existing Asian activities well and will be a further important step in our long-term international growth strategy.”

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