Unlike the Swiss banks, LGT Group is held by one shareholder, the Princely Family, after which Liechtenstein (which means light stone) is named. LGT Group comprises mainly private bank LGT Bank and an asset management arm. LGT Bank is one of the few pure private banks whose credit quality is rated by both Moody’s and Standard & Poor’s. LGT Group is owned by LGT Group Foundation, whose creditworthiness is fundamental for the strong rating, which is based on balance sheet and earnings strength. The Foundation Board meets at least four times a year.
SINGAPORE (Oct 7): In April, when Asian Private Banker announced assets under management by private banks in Asia for 2018, LGT Group was placed No 10 with AUM equivalent to US$56 billion, or about a quarter of the private banks’ total AUM. The top two private banks in the league table were Swiss giants UBS with US$357 billion and Credit Suisse with US$205.1 billion. A third Swiss bank, Julius Baer, was in fourth place with US$111.9 billion.
LGT (Liechtenstein Global Trust) Group is not a Swiss bank. It is based in Liechtenstein, which measures just 160.8 sq km (smaller than Singapore), and is bordered by Switzerland to the west and south, and Austria to the east and north. Its AUM include assets under custody/administration and exclude loans.
