Jörg Klar will succeed Patrik Paulus as chairman of the board of management of Liechtensteinische Landesbank (Switzerland) on 1 November this year.

Klar joined the LLB group in 2008 and was involved in the successful development and launch of LLB Austria.

Paulus is to take on a new role as chairman of the board of directors at a family office in which LLB holds an equity stake; he has been chairman of LLB Switzerland since 1 November 2001.

The parent company LLB is majority-owned by the Principality of Liechtenstein. It has offices in Liechtenstein, Switzerland, Austria, Abu Dhabi, Dubai, the Cayman Islands and Hong Kong. As at end-December 2009, the LLB group managed client assets totalling SFr49.5 billion ($44.9 billion).