Liechtensteinische Landesbank has bought a majority stake in Jura Trust, a Vaduz-based trust company, for an undisclosed sum. The bank said ...

Liechtensteinische Landesbank has bought a majority stake in Jura Trust, a Vaduz-based trust company, for an undisclosed sum. The bank said Jura Trust will continue to trade under its own name. LLB said in a statement: “The Landesbank attaches very great importance to its domestic market in Liechtenstein. By acquiring the majority shareholding in this prestigious Liechtenstein trust company, the Principality's longest established bank underlines its goal of consolidating and further strengthening its position in the domestic market.” Jura Trust was set up in 1978 and was created from the law firm founded in the 1940s by Alois Vogt. The firm employs a staff of 20. Separately, LLB also announced the opening of a new bank in Abu Dhabi and said it plans to open a further office in Dubai next year. LLB has around SFr32.8 billion ($25.1 billion) of clients’ assets under management.