Vaduz, Vienna, 18 November 2009. The Liechtensteinische Landesbank (LLB) has received a license from the Austrian Financial Market Authority to open a bank in Austria. By taking this step, in conformance with its strategy, the LLB Group is pushing ahead with the expansion of its international business activity. Liechtensteinische Landesbank (Österreich) AG has its registered office at Wipplingerstrasse 35 in Vienna's 1st district.
"We are delighted to be able to commence our business activity in neighbouring Austria. We regard Austria as being a very interesting market, and as a keystone in the realisation of our growth strategy that is based on three pillars, i. e. the development of new markets, the expansion of business activities in Switzerland and the strengthening of our Liechtenstein domestic market. Thanks to the bank in Vienna, we can broaden and deepen our international business activity", said Dr. Josef Fehr, Chairman of the Group Executive Board, in expressing his pleasure at the granting of the bank license.
"With our bank in Vienna we want to become an attractive address for wealthy private individuals and institutional clients in Austria. Besides classical banking services, we shall focus on providing private banking and wealth management services. Our new business location shall also serve as a central hub from which we can intensify sales and market penetration activities in the Central and Eastern European market", added Peter Mayer, the Chairman of the Board of Management of the bank in Austria.
Peter Mayer previously worked for the LLB Group from 2001 to 2006. As a member of the Swiss bank's Management Board, he made a valuable contribution to the development and expansion of Liechtensteinische Landesbank (Switzerland) Ltd. in Zurich in the areas of external asset managers, institutional banking and private banking. Since 2006, Peter Mayer has been the Chief Executive Officer of a bank domiciled in Vienna.
Liechtensteinische Landesbank (Österreich) AG will commence its operative activities immediately with a preliminary team of 17 employees.
Address:
Liechtensteinische Landesbank (Österreich) AG
Wipplingerstrasse 35
1010 Vienna
Telephone +43 1 533 73 83-0
Fax +43 1 533 73 83-22
E-mail llb@llb.at
Internet www.llb.at
| Brief portrait The Liechtensteinische Landesbank AG (LLB) is the longest established financial institute in the Principality of Liechtenstein. The Principality of Liechtenstein holds the majority of the company's share capital. The LLB's shares are listed on the SIX Swiss Exchange (symbol: LLB). The LLB Group offers its clients comprehensive wealth management services, as a universal bank, in private banking, asset management, fund services and trust services. With 1'024 employees, the LLB is represented in Liechtenstein, Switzerland, Austria, in the United Arab Emirates (Abu Dhabi and Dubai), on the Cayman Islands and in Hong Kong. As per 30 June 2009, the LLB Group managed client assets totalling CHF 47.6 billion. |
