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LGT and QUANTIS to join forces to strengthen their position in Eastern Europe

February 8, 2012
BROKERNET Group and LGT Group have signed a strategic partnership agreement to cooperate in Eastern Europe. It is agreed that LGT Capital Management will acquire a minority share (30%) in QUANTIS Investment Management Zrt.

BROKERNET Investment Holding Zrt., owner of QUANTIS Investment Management Zrt., has agreed to sell a minority stake in QUANTIS Investment Management Zrt. to LGT Capital Management for an undisclosed sum. The move – which is subject to authority approval – will allow QUANTIS Investment Management Zrt. and LGT Capital Management to develop more strongly in Eastern Europe. Within the framework of the aforementioned agreement, QUANTIS Investment Management Zrt. will be responsible for the regional distribution of LGT Capital Management’s multiple award-winning funds.

LGT Group, the largest family-owned private banking and asset management group in Europe headquartered in Vaduz has been managed and controlled by the Princely House of Liechtenstein for 80 years and offers global services from more than 20 locations in Europe, Asia and the Middle East with assets under administration of CHF 88.1 bn as of 30 June 2011.

QUANTIS Investment Management Zrt. is a leading independent multi-manager company based in Budapest and belongs to the BROKERNET Group, Hungary’s largest financial advisory organization in terms of revenue and number of clients.

The alliance is expected to result in substantial benefits for both partners, with LGT Capital Management gaining access to new markets, and QUANTIS Investment Management enhancing its product offering.

“We are particularly proud to be able to draw on the investment expertise of LGT Group in traditional and alternative asset management to develop our product range. In addition we can leverage the expertise of LGT Group in private banking to deliver innovative solutions to our clients. Under the strategic partnership LGT Group will commence the distribution of existing LGT investment solutions that have not been available in Hungary so far, and it also intends to develop new products with QUANTIS Investment Management Zrt. says Akos Sarandi, CEO of QUANTIS Investment Management Zrt.

“We are very excited to join forces with one of the leading distributors of financial solutions in Hungary, who has subsidiaries in Slovakia and Romania and plans to further expand its business in the neighboring countries thereby strengthening our market position in Eastern Europe,” comments H.S.H. Prinz Max von und zu Liechtenstein, CEO of LGT Group. Torsten de Santos, Member of the Senior Management Board of LGT Group and CEO of LGT Capital Management, adds: “We believe that with our experience and support in developing new products, QUANTIS Investment Management will be able to present an even stronger proposition to investors. We expect – despite the challenging economic environment - significant growth to take place in this region in the years to come as a result of increasing demand for long-term savings solutions to cater to long-term saving needs from institutional as well as private investors.”

“The shareholders of BROKERNET Group are pleased at this opportunity to join forces with a family-owned group with a long history in order to continue our success story in the dynamically expanding Central and Eastern European region together. Since its incorporation in 2008, QUANTIS Investment Management Zrt. has achieved unprecedented growth in Hungary, which, in my view, combined with the acquisition by LGT Group, will robustly contribute to the further enhancement of the goodwill of the entire Group in the long run.”, said Peter Kostevc, chairman and co-owner of BROKERNET Group.

BROKERNET Group was supported by Deloitte Hungary as well as Gardos, Furedi, Mosonyi, Tomori Law Firm while LGT Group was supported by PricewaterhouseCoopers and Ember and Szarvas Law Firm during the transaction.