LGT acquires majority stake in Indian wealth manager Validus Wealth.

LGT, the leading private banking and asset management group owned by the Princely Family of Liechtenstein, has agreed to acquire a controlling stake in Validus Wealth. Financial terms were not disclosed. The remaining shares will continue to be held by the current management team. Validus Wealth is an Indian wealth management firm with a presence in nine cities across the country. This transaction will enable LGT to gain a foothold in India’s up-and-coming market for high-net-worth private clients. "Our accelerated growth is a clear reflection of the opportunities in India for home-grown wealth management firms such as ours to leverage. We’re very proud to become part of LGT Group through this transaction. LGT’s comprehensive capabilities will further propel our ambitious agenda and contribute to our efforts in enhancing robust offerings. Their established legacy as a leading global asset manager with over $200bn in client assets and our proficiency of the Indian market will help create an enriched experience for our clients’ financial life through our combined global and local expertise." Atul Singh, CEO Validus Wealth.