LGT Crestone rebrands post-CBA advice acquisition
LGT Crestone has announced a rebrand, marking a “decisive milestone” following its acquisition of Commonwealth Bank’s high-net-worth financial advisory business in June.
As the latest step in the wealth management firm’s evolution, LGT Crestone will officially rebrand to LGT Wealth Management Australia.
This name change reflects its ambition to “lead the nation’s private wealth sector and cement its alignment with LGT’s global reputation,” it said.
Though the name will change, the firm has assured clients that the advisers, relationships, and services will remain unchanged, while the shift will allow them to benefit from enhanced global reach.
Meanwhile, it explained that the rebrand better reflects employees’ expertise, as well as positioning the firm to attract and retain high-quality talent.
Speaking on the announcement, CEO Michael Chisholm said the rebrand is a “bold and strategic step forward” for the business.
“It reflects our commitment to delivering world-class wealth management, backed by global expertise and a deep focus on our clients. While our name is changing, our purpose is constant – to provide premium, global tailored advice and solutions with the same focus on local service and personal relationships as ever. We are excited to continue our growth trajectory and showcase the best of what LGT has to offer,” Chisholm said.
Olivier de Perregaux, CEO of LGT Private Banking, added: “Australia is a key market for LGT’s long-term growth ambitions. The rebrand to LGT Wealth Management Australia, together with the recent expansion of the team and client base, demonstrates a strong commitment to building a leading wealth management business in the region. I look forward to supporting the team as they continue to deliver outstanding outcomes for clients and further strengthen LGT’s presence in Australia.”
This announcement follows the finalisation of the firm’s acquisition of CBA’s financial advisory business – Commonwealth Private Advice – on 2 June, which saw some $5 billion in assets under management (AUM) move across to LGT.
Initially announced in November 2024, this acquisition marked the exit of the big four bank from the advice industry, with LGT Crestone (now LGT Wealth Management Australia) gaining 38 experienced professionals from the deal, including 18 investment advisers.
Following the execution of the acquisition, the firm has grown to $40 billion in assets under advice, with more than 400 professionals operating in the business across its Adelaide, Brisbane, Melbourne, Perth, and Sydney offices, including some 138 advisers.
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Shy-Ann Arkinstall
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