Amvescap's Purchase Of LGT Promises Common Back Office But Distinct Products

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Amvescap's acquisition of LGT Asset Management of Liechtenstein will increase assets under management at the London-based holding company by $55 billion to $247 billion, making it the world's seventh largest investment company. It will also likely lead to the phasing out of LGT's back office, although company spokesmen are not yet publicly confirming that.

"Amvescap has simply said it will attempt to move the new operation to a common IT platform, but it will take them a while given their wid

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