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LLB Group accelerates growth in Swiss market

3 May 2023
Vaduz - The LLB Group is joining with Bank Linth to forge new strategic paths in the Swiss market. It is focused on achieving a faster pace of growth and technological and sustainable transformation. The joint LLB brand will be launched on July 1, 2023.

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The LLB Group and its regional bank Bank Linth are investing in the Swiss market with a joint strategy. The ACT-26 strategy comprises the «core elements of growth, efficiency and sustainability», according to a press release. The objective of the new strategy is to strengthen private banking and business with corporate clients and external asset managers (EAM). The private client area will remain a central pillar. The banking group says it is aiming to adopt a dual positioning in the market. As a universal bank, it will remain «number one in Liechtenstein and the region.» «At the same time, it will be a safe, sustainable international private bank.»

For private banking, corporate clients and EAM business, the group intends to expand its network of branches with new locations in Zurich and St.Gallen. The ACT-26 corporate strategy will be reflected in a shared brand. As a result, «all companies, Liechtensteinische Landesbank AG, Bank Linth and Liechtensteinische Landesbank (Österreich) AG» will in future operate as LLB.

The organizational structure is also being changed. After around 10 years as CEO, David Sarasin will leave his post to pursue new career opportunities. From July 1, the new CEO will also have responsibility for developing the areas of private banking and EAM. Sarasin will remain with the company until the end of the year. heg