LGT has succeeded in maintaining its strong corporate culture despite its rapid international growth over the past 20 years. Recently it even made it onto the list of the top 25 employers in Europe as the only bank.
In an interview, the two Executive Heads of LGT’s Liechtenstein Academy talk about the important role this internal training center plays in the company’s culture.
Why was the Liechtenstein Academy founded?
Hans Rudolf Maag: When Liechtenstein-based LGT took over an Anglo-Saxon asset management company in the 1990s, two very different corporate cultures collided. The then CEO and now Honorary Chairman of LGT, H.S.H. Prince Philipp von und zu Liechtenstein, was looking for a way to reconcile these two cultures. He believed that a joint training program could be the right approach.
Manuela Steiner: After meeting the inventor of the Mind Map Tony Buzan at a private gathering, Prince Philipp first tried the idea of a mind-mapping workshop for intercultural exchanges out with his family and later brought it to the company. The initial trials with management members of both companies were very well received. The participants even made their own recommendations about how the program could be further developed. For example, one suggested that learning about art be part of the program, while another, through his contact with a university rowing club, brought rowing – which is one of the clearest embodiments of the importance of teamwork – to the program.
Hans Rudolf Maag: The Academy therefore developed organically – and after a few years, also with support from academia – into what it is today.
Can you describe what lies at the heart of today’s Academy?
Manuela Steiner: The Academy was and remains a place where people come together. Where employees of all seniority levels and from all LGT locations can exchange ideas on an equal footing and be exposed to ideas that help them further develop and reflect in order to better address professional and personal challenges. We pursue a holistic approach that includes both mind and body.
Hans Rudolf Maag: The Liechtenstein Academy doesn’t offer professional training. Instead, it supports LGT employees in their personal development. This makes interaction possible across a variety of different departments and teams, and makes the Academy a networking platform that fosters LGT’s corporate culture, which is based on cooperation and teamwork.
What kind of programs does the Academy offer?
Hans Rudolf Maag: Our «flagship offering» is the «Be.Yourself» program, which is where participants come into contact with the Academy for the first time. For one week, they address their self-image and personal values. Using tailored tools based on mental training, resilience and positive psychology, the participants receive valuable impetus to help improve their performance. Morning rowing and creative elements are, of course, also part of the program.
Manuela Steiner: We also offer programs where we deep-dive into targeted elements of «Be.Yourself». Other programs include special topics such as «Complexity» or «Acting Sustainably». We place a strong emphasis on people taking responsibility for their actions and increasing their ability to reflect in all of our programs.
How important is the location at Freudenfels Castle on Lake Constance?
Manuela Steiner: Initially, the Liechtenstein Academy didn’t have a fixed location, but since 1996, it has been based at Schloss Freudenfels in the canton of Thurgau. On the one hand, the charming and lovingly maintained campus reflects the great importance LGT attaches to the Liechtenstein Academy. On the other hand, it serves as a retreat that provides the necessary distance from people’s day-to-day lives. Online training is becoming increasingly important, but it cannot replace the interaction you experience when you attend training in person.
Schloss Freudenfels, Eschenz
Changes were made at the helm of the Foundation Board at the beginning of the year. How will this affect the future development of the Academy?
Hans Rudolf Maag: It was very important to our owner, the Princely House of Liechtenstein, that the Liechtenstein Academy be led by a family member. When H.S.H. Prince Philipp retired and handed the Chairmanship of the Foundation Board over to his successor H.S.H. Prince Hubertus, continuity was therefore ensured. Prince Hubertus’ many years of experience in management positions in the education sector are ideal for this role. He wants to continue the Liechtenstein Academy in the spirit of its founder and feels it should remain an important place for dialog and creativity that gives rise to valuable new insights for a successful everyday work life.
The Liechtenstein Academy has also been open to interested external parties for a few years now. Why is that and what do you offer them?
Manuela Steiner: When our relationship managers tell their clients about attending an Academy program, their clients are often curious to learn more about the work we do. Many of the topics covered at the Academy are also of great interest to our clients.
Hans Rudolf Maag: Many clients of the bank are entrepreneurial families. We have specifically designed a number of modules for them, such as the «Family Governance» module. These families also face issues, especially when it comes to family-owned businesses, which the Princely House has dealt with for centuries, for example relating to family cohesion or the transfer of assets. The Liechtenstein Academy is able to offer an important and unique platform for sharing experiences in this area.
- Find more information about the Liechtenstein Academy here.
Hans Rudolf Maag Maag studied natural sciences, education and psychology. After completing his studies, he took on roles in personnel development and human resources at international companies. He is involved in charitable projects in Europe and Africa, with a focus on reintegrating young people into the workplace and advising small businesses. As a partner in family businesses, he also deals with topics relating to successful company management on a daily basis.
Manuela Steiner has a background in business administration and many years of experience in the development and monitoring of educational programs. She has exceptionally high quality standards and a keen awareness of interpersonal processes. Manuela Steiner also works as a volunteer in projects aimed at integrating people with a migration background into the Swiss workforce.
