LGT, the international private banking and asset management group owned by the Princely Family of Liechtenstein, has just released its financial results for 2024. It operates in multiple jurisdictions.

LGT assets under management increased by 16 per cent to SFr367.5 billion ($477 billion) in 2024, compared with the previous year, of which SFr11.9 billion is attributable to net asset inflows. This reflects positive market and investment performance, and favourable currency effects, the firm said in a statement.  

Income from services rose 13 per cent on a year before to SFr1.77 billion, reflecting strong performance in LGT's core business; total operating income rose 4 per cent to SFr2.67 billion. Net interest income fell 33 per cent to SFr347.9 million in the normalised interest rate environment. Group profit meanwhile totalled SFr356.2 million, a 5 per cent drop compared with the previous year.

LGT said it continued to pursue its long-term growth and investment strategy, focusing on investments to bolster its IT infrastructure and digitalisation efforts, and expanding its market presence in Germany, Australia, India, Japan and Thailand. The integration of the UK wealth management business acquired from Aberdeen has been completed, and its results have been reflected in LGT's results since September 2023, LGT said. Furthering the expansion of its private banking business in the Australian market, in November 2024 LGT announced the acquisition of Commonwealth Bank of Australia's Private Advice business, which is expected to close in mid-2025. 

The group said it will continue to focus on implementing the digitalisation strategy launched in 2023, which includes an investment of SFr200 million over five years. Its digital development hub in Barcelona supports the launch of innovative tools. LGT's aim is to use technological advancements, including generative artificial intelligence, to increase the efficiency of internal processes. 

“We continued to execute our long-term strategy, enhancing our presence in both our new and our established markets across Europe and Asia-Pacific, while driving digital innovation,” HSH Prince Max von und zu Liechtenstein, chairman of LGT, said.

LGT employs over 6,000 people who work out of more than 30 locations in Europe, Asia, the Americas, Australia and the Middle East.