Skip to main content
Two people pushing large puzzle pieces together in front of world map

Crestone to be acquired by LGT Group

By Mike Taylor15 December 2021

Crestone Wealth Management is being acquired by global wealth management firm, LGT Group.

Crestone announced today that it had entered into a conditional scheme implement deeed with LGT Group which would see LGT acquire 100% of the shares on issue in Crestone for a total consideration of $475 million.

It said the transaction would enable Crestone to accelerate its growth strategy in Australia and expand the investment opportunities available to Australian high net worth clients while providing them with access to the expertise of the largest privately-owned global banking and asset management group.

Crestone Chief Executive Michael Chisholm said Crestone employees and clients would benefit from access to a broadened range of global services and investment opportunities, new international perspectives, a seamless cultural and operational fit, and the extension of the firm’s existing high client service standards.

“This is an exciting opportunity that would provide Australian high net worth investors with seamless access to global opportunities and would cement Crestone’s position as Australia’s leading high net worth investment advisor.

“Crestone has come a long way in five years in its pursuit of always bringing the very best approach to portfolio construction and investment solutions to our clients. The proposed transaction would enable us to deliver greater scale benefits to our clients whilst drawing on the experience, skills, and global insights of a leading wealth management firm like LGT.”

Crestone non-executive chair, Leigh Clifford said the company believed “LGT is a natural long-term owner for our business that would provide us with further balance sheet strength while retaining the benefits of a privately owned structure that aligns with our client focused business model”.

Mike Taylor

Mike Taylor

Managing Editor/Publisher, Financial Newswire

Subscribe to comments
Be notified of
0 Comments
Inline Feedbacks
View all comments