The Liechtensteinische Landesbank (LLB) has recently opened new branches in Germany, specifically in Munich, Frankfurt, and Düsseldorf. These locations were chosen to strengthen the bank’s close relationship with Switzerland and Europe.

According to a press release, the LLB branches in Munich, Frankfurt, and Düsseldorf officially opened in January 2024 with a total of 20 employees. The bank plans to have around 40 employees in the future to focus on the German market.

The LLB’s decision to expand in Germany comes after the bank reported a record half-year result in 2023. With this positive financial performance, the LLB is investing in growth.

The Munich branch is led by Jochen Schindler-Nagy, who previously worked at UBS Europe and Credit Suisse. Lennart Marx, formerly employed at Deutsche Bank and Unicredit, serves as the deputy branch manager. In Frankfurt, Matthias Luck, formerly of UBS Germany and Julius Bär Germany, takes the helm, with Jan-Robert Bachmann from Deutsche Bank as the deputy branch manager.

LLB CEO Gabriel Brenna highlighted the advantages of Liechtenstein banks operating in Germany, such as the stable Swiss franc and the close relationship with Switzerland through the currency and customs union, as well as membership in the European Economic Area (EEA).

It is worth noting that the Liechtenstein-based LGT Bank is also expanding its presence in Germany.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Europe
Countries	🇩🇪 🇨🇭
Sentiment	very positive
Relevance Score	1
People	Matthias Luck, Lennart Marx, Gabriel Brenna, Jan-Robert Bachmann, Jochen Schindler-Nagy
Companies	Credit Suisse, UBS Europe, Julius Bär Deutschland, UBS-Europabank, Liechtensteiner Fürstenbank LGT Bank, Unicredit, Deutsche Bank
Currencies	None
Securities	None