LGT, the leading international private banking and asset management group owned by the Princely House of Liechtenstein, today announced that it has reached an agreement with ABN AMRO to acquire its private banking business in Hong Kong, Singapore and Dubai with approx. USD 20 billion in assets under management. The acquisition by way of an asset purchase agreement marks a major step in the implementation of LGT’s growth strategy and will further enhance its strong footprint in Asia and the Middle East. As a result of the transaction, LGT expects to increase its assets under management to more than USD 40 billion in Asia and to approx. USD 160 billion overall.

For more information, please see the attached press release.