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LGT Vestra: LGT's UK growth dynamo
20/03/2017 , Ian Orton

London-based LGT Vestra, a UK wealth management subsidiary of LGT appears to have had a very good 2016, according to the presentation that accompanied the Vaduz-Liechtenstein-based bank’s most recent results presentation.

LGT, which claims to be the biggest private banking and asset management firm in the world owned by an entrepreneurial family, didn’t segment it results by operating division or subsidiary.

But a slide included in the presentation shows that client assets under management at LGT Vestra, in which LGT acquired a majority stake in 2016, increased by £1.8 billion from £5.6 billion to £7.4 billion during the year, an increase of 32.14 percent.

Furthermore, a significant portion of this increase reflected strong organic growth, especially during the second half of 2016 when net asset inflows amounted to more than £1 billion.

Indeed LGT Vestra has grown client assets rapidly since 2011 according to the same slide. At the end of 2011 the firm had just £2.4 billion of client assets under management.

With £7.4 billion five years later this means that LGT Vestra has grown client assets by 208.33 percent over the period, a far higher rate of growth than that experienced by its new parent over the same period.

LGT increased its client assets by CHF 68 billion from the CHF 84 billion recorded at the end of 2011 to CHF 152 billion at the end of 2016, an 80.95 percent increase.

Moreover, the LGT increase includes acquired assets (including those of LGT Vestra). LGT Vestra’s asset growth is all organic, however.

Nonetheless, LGT Vestra accounts for a relative low proportion of LGT’s client assets. Although it manages more than LGT Austria (CHF 5 billion), Liechtenstein (CHF 30 billion), Switzerland (CHF 30 billion), Asia and the Middle East (CHF 25 billion) along with LGT’s asset management arm all manage more.         

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