LGT completes takeover of LGT Vestra
The financial institute LGT has completed a takeover of LGT Vestra in the UK. LGT had previously acquired a majority shareholding in the asset management firm a few years ago.
In March 2016, LGT acquired the majority shareholding in LGT Vestra. It has now completed a takeover of the UK-based asset management firm, as detailed in a press release. “Our partnership with LGT Vestra has been extremely successful for the past five years and has also generated considerable added value for clients. We look forward to working with the existing management team to further expand this great company”, comments Prince Maximilian of Liechtenstein, CEO of LGT, in the press release. The financial institute acquired the remainder of the shares from the executive partners of LGT Vestra.
Since acquiring the majority shareholding in LGT Vestra, LGT has increased the assets under management from 5.6 billion pounds sterling to 15.7 billion. The number of employees has also risen across the same time frame from 234 to 362. “We are fortunate to have found a reliable partner in LGT in 2016. There was an immediate recognition that we had a similar approach to dealing with clients. We have been able to continue to focus on a long-term approach, putting our clients first and doing what is right for them”, explains David Scott, Founder and Chairman of LGT Vestra.