Liechtensteinische Landesbank pledged to pour $109 million into a bid to transform itself into a slimmer, more sustainable, and profitable bank by 2026.
Vaduz-based LLB is targeting more than three percent growth in net new money and client loans, a cost-income ratio of less than 65 percent, and a capital cushion of at more than 16 percent by 2026, it said in a statement on Monday. The move is a part of a 100 million Swiss franc ($109 million) technological and sustainable transformation, it said.
The lender also wants to reward investors: it will lift its dividend payout ratio to more than half of net profit, from 40 percent 60 percent currently. LLB will also slim down to five key units, from six currently, with an operations division adding technology and «change» responsibilities. Its management, from January, is as follows:
- CEO: Gabriel Brenna
- private and corporate clients: Urs Mueller
- international wealth management: Natalie Flatz
- chief digital officer: Patrick Fuerer
- chief financial officer: Christoph Reich
LLB said its board appointed Christoph Reich as deputy CEO from January 1. Reich replaces Urs Mueller, who will focus on strategically developing the private and corporate client division.
