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June 28, 2019

LGT to buy controlling stake in Indian wealth manager Validus

LGT, a private bank and asset manager owned by the Princely Family of Liechtenstein, has agreed to buy a majority stake in India’s Validus Wealth.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The deal is pending regulatory nod. The transaction value and the stake size were not revealed.

Validus currently has operations in nine Indian cities with a workforce of over 150.

The firm, formerly called WGC Wealth, opened doors in September 2018.

Its current management will continue to own the remaining stake in the business.

Validus founder and CEO Atul Singh will retain the firm’s leadership.

Singh noted: “LGT’s comprehensive capabilities will further propel our ambitious agenda and contribute to our efforts in enhancing robust offerings.”

As part of LGT, Validus will develop a next generation private client platform for the India market.

It will initially provide investment advisory, portfolio management, research, and wealth planning services, with plans to add financing services to its portfolio later.

The deal is anticipated to close in the coming two to three months.

LGT CEO Max von und zu Liechtenstein said: “Validus Wealth represents an excellent opportunity for us to gain a foothold in the highly promising Indian market and work together over the coming years to expand the business, which is still very much in its infancy.

“We’re delighted to welcome the company’s employees and clients into the LGT family.”

LGT has been focusing on the Asia market lately.

This February, the private bank set up a wealth management office in the Thai capital of Bangkok.

A month later, LGT struck a wealth management partnership with China Renaissance.

 

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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