LGT, the bank of the Princely House of Liechtenstein, has turned its operation in Vienna to a fully fledged bank offering comprehensive weal...

LGT, the bank of the Princely House of Liechtenstein, has turned its operation in Vienna to a fully fledged bank offering comprehensive wealth management and private banking services including art consultancy. Menhard Platzer has been appointed chief executive of the bank in Austria. HSH Prince Max of Liechtenstein, LGT group chief executive office said: "Setting up the bank in Austria is a further step in our successful global strategy. However, the decision to expand our operation in Austria in particular was also based crucially on positive developments in Austria as a business location and as a financial market. “In this respect Austria has taken some key measures. This applies to the laws governing foundations as well as to the tax regime and the development of the Vienna stock exchange. In sum, a climate has been created which is conducive to long-term, sustainable investment of assets. The setting up of LGT Bank (Osterreich) is a reflection of these opportunities.”