LGT in February launched its first offices in Bangkok – now the turn is on India. The bank led by Prince Max von Liechtenstein announced an acquisition in India, opening a giant new market for the bank.

Fast Mover

LGT acquired a majority stake in Mumbai-based Validus Wealth, a quickly growing wealth manager, according to a statement released on Thursday. Validus Wealth launched its business in September 2018 and already employs a workforce of 150 in nine different Indian cities.

«Validus Wealth represents an excellent opportunity for us to gain a foothold in the highly promising Indian market,» said Prince Max according to the statement.

Full Service Platform

Validus Wealth will develop a full service private client platform in India, offering investment advisory, portfolio management, research, and wealth planning services.

Vaduz-based LGT has expanded rapidly in recent years, with acquisitions used to push growth. The strategy so far has paid off.

The CEO of Validus Wealth, Atul Singh, is remaining the man in charge in India and he is also keeping a minority stake with partners.