17th June 2016: We are proud to announce that LGT, the leading private banking and asset management group, wholly owned by the Princely Family of Liechtenstein, has purchased a significant majority stake in our parent company, Vestra Wealth, primarily from Vestra’s original external investors. The executive partners continue to hold the remaining stake. Vestra Wealth has been renamed LGT Vestra LLP and Vestra US Wealth Management Limited has been renamed LGT Vestra US Limited.
The Liechtenstein Princely Family shares Vestra’s values and ethos and wishes to pursue the same business approach and maintain the culture that was established at the outset. LGT Vestra LLP will remain a Partnership led by David Scott as Chairman and Ben Snee as CEO. Our partnership with LGT will allow us to further invest in the business so that we can continue to improve the service that we offer to our clients. With LGT, we have ensured a long-term sustainable future with a partner who shares our philosophy and entrepreneurial spirit and who believes in a highly personalised approach to client management.
LGT is the largest private banking and asset management group in the world that is wholly owned by a single family. As at 31 December 2015, LGT had CHF 132.2 billion in assets under management, which represents an increase in excess of 50% over the last five years and is attributable to LGT’s successful international growth strategy. The group benefits from a well-diversified revenue base and economies of scale, and has shown a steady increase in profitability despite continuous investments in new business areas. LGT’s culture is built on the alignment of interests between clients, employees and owners, emphasising entrepreneurship and long-term orientation.