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ABN AMRO to sell private banking business in Asia, Middle East to LGT

Benjamin Cher Published on Tue, Dec 06, 2016 / 3:05 PM GMT+8

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SINGAPORE (Dec 6): ABN AMRO has reached an agreement to sell its private banking operations in Asia and Middle East to LGT, an international private banking and asset management group, for an undisclosed sum.

This move follows a strategic update on Nov 16 amid rumours of potential suitors eyeing the private banking operations in Oct.

(See also: Julius Baer, DBS said to mull buying ABN AMRO Asia Private Bank)