LGT Bank Switzerland named best foreign bank by “Bilanz”
The Swiss business journal “Bilanz” has named LGT Bank Switzerland as “Best Foreign Bank”. The bank, which is headquartered in Vaduz, earned this title following “a very good overall performance” across all six categories, as Professor Thorsten Hens, who headed up the jury, explains in a press release issued by LGT Bank. The criteria of interaction, holistic approach, transparency, costs, risk disclosure and portfolio structure were assessed. The bank under the ownership of the Princely Family of Liechtenstein performed particularly well in terms of its personalized advice and well thought out investment recommendations. “The investment proposal was tailored to the client’s needs and the costs were reasonable”, the press release states.
The excellent result in the private banking rating in addition to the title of “Best Foreign Bank” together represent “a welcome confirmation”, according to Heinrich Henckel, CEO of LGT Bank Switzerland. He adds: “In the coming years, LGT wants to focus on the area of sustainable investing. With our expertise in this segment, we are convinced that we can make a valuable contribution for our clients, society, the environment and the economy”.
More than 90 banks in Switzerland took part in the private banking test. This involved the participating banks being asked to come up with an investment proposal for an 80-year-old test client with disposable assets totaling 5 million Swiss francs. The jury then selected the top 23 banks, whose proposals were analyzed by the Institute for Wealth Accumulation in Munich using a set of around 60 criteria. The chosen finalists were subsequently asked to present their investment proposal to both client and jury via Zoom.