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LGT expands presence in Australia with acquisition of CBA’s personal advice business

Liechtensteinian pure play LGT has signed an agreement to acquire the personal advice business of Commonwealth Bank of Australia (CBA) as part of its efforts to expand its presence in the Australian wealth management market. The acquisition of Commonwealth Private Advice is expected to transfer more than CHF 2.8 billion (US$3.2 billion) in assets from CBA’s ultra high net worth and…

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