LGT, an international private banking and asset management group fully controlled by the Liechtenstein Princely Family, has posted group profit of CHF165m for the year ended 31 December 2014, a 19% rise compared to a year ago.
The group’s assets under management stood at CHF128.8bn, up 20% versus 2013. Net asset inflows soared 7% to CHF7.1bn.
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Total operating income jumped 13% to exceed CHF1bn, while total operating expenses increased 11% to CHF761m.
The group’s cost-income ratio dropped nearly 2 percentage points to 75.4% in 2014 from the previous year.
The group’s tier 1 capital ratio dipped to 18.4% as against 21.3% in 2013.
LGT CEO H.S.H. Prince Max von und zu Liechtenstein said, "We achieved very good results for the 2014 financial year and significantly strengthened our strategic position. A particular highlight is the significant rise in assets under management, which was strongly backed by our investment expertise and our good performance.
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By GlobalData"For many years the further development of our investment expertise in traditional and alternative asset classes has been one of our main priorities. This benefits us and our clients, particularly in the current difficult investment environment. We will further invest in the development of our business and continue to pursue our proven long-term strategy of international diversification – always with the aim to stand side by side with our clients as partners in every market environment."
