LLB moves to new business premises in Dubai
Vaduz, 17 July 2019. The Representative Office of Liechtensteinische Landesbank AG (LLB) in Dubai is moving to the Dubai International Financial Centre (DIFC) and, therefore, transferring all its business activities to the so-called Financial Free Zone. LLB has been doing business successfully in the Middle East since 2005 and, with its move to the DIFC, is again expanding its position.
Branch in the United Arab Emirates relocates to Dubai International Financial Centre
In combination with the move to the Dubai International Financial Centre, LLB is also changing its organisational structure in Dubai. Following this step, it will become a business branch and no longer a representative office. The responsible local regulator, the Dubai Financial Services Authority (DFSA), has approved the licence application. This change of structure will generate added growth possibilities for the LLB Group.
Dr Gabriel Brenna, Head of the Private Banking Division of the LLB Group, explained: "The move to the DIFC, and the new, larger offices in 'Burj Daman', reflect our successful business development in recent years and represent an important step for our future growth in the Middle East. By taking this step, we are increasing LLB's visibility and attractiveness for clients and employees. It also enables us to continue the specific expansion of our services and activities."
From its two business bases in Dubai and Abu Dhabi, the LLB Group cares for its clients in the United Arab Emirates and the entire Gulf Region.
Liechtensteinische Landesbank AG (LLB) is the longest established financial institute in the Principality of Liechtenstein. The majority of the company's share capital is held by the Principality of Liechtenstein. LLB's shares are listed on the SIX Swiss Exchange (symbol: LLBN). The LLB Group offers its clients comprehensive wealth management services, as a universal bank, in private banking, asset management and fund services. With 1'077 employees (full-time equivalent positions), LLB is represented in Liechtenstein, Switzerland, Austria and the United Arab Emirates (Abu Dhabi and Dubai). As per 31 December 2019, the business volume of the LLB Group stood at CHF 89.3 billion.
- 25 August 2020, 2020 Interim Financial Statement
Dr. Cyrill Sele
Head of Group Corporate Communications & General Secretary
Telephone +423 236 80 99