Liechtensteinische Landesbank (Österreich) AG: Historic record high of EUR 33 billion in client assets in 2021
Vienna, 25 May 2022: Liechtensteinische Landesbank (Österreich) AG continued its fast-paced growth in 2021. In 2021 client assets under management grew by 26 per cent, reaching a new record high of EUR 33 billion. The bank has thereby proved once again that it is Austria's leading asset management bank. In other developments, Iris Ortner, shareholder and managing director of IGO Industries, has been appointed to the Supervisory Board of LLB Österreich as a new member.
Industrialist and CEO of IGO Industries, Iris Ortner, appointed to LLB’s Supervisory Board.
In the financial year 2021 Austria's financial sector was faced with a persistently challenging situation due to the corona pandemic. Nevertheless LLB Österreich successfully held its ground and broke its own records not only in terms of client assets under management but also in terms of its operating result: With EUR 33 billion of client assets under management as at 31 December 2021 the renowned bank, whose diversified business model is based on asset management and advisory services, custodian banking and investment funds, as well as real estate, reached a historic record high. The profit on ordinary activities increased by 52 per cent to EUR 21.2 million (group level). Profit after tax amounted to EUR 14.7 million.
Our teams have once again proved their expertise in advisory services for our clients with outstanding professionalism. We are delighted with these excellent figures. Compared to the result achieved in the previous year, which was a very good one indeed, this is an increase of approximately 26 per cent. Growth is a key aspect of our strategy and this financial result nicely confirms our business philosophy”
, says a pleased Robert Löw, Chairman of the Board of Management.
Iris Ortner strengthens the corporate and industry expertise on the Supervisory Board
Iris Ortner is the fourth woman to be appointed to the Supervisory Board of LLB Österreich.
I am very happy to strengthen the diversity of this Supervisory Board in many ways. I am particularly keen to bring a corporate and industry perspective onto the Supervisory Board and, generally, to provide an impetus for new ideas by a critical view from outside”
, says the newly appointed member to the Supervisory Board.
After graduating from ETH Zurich with a degree in mechanical engineering Iris Ortner (47) worked in Warsaw for three years, where she built up the Polish branch. Today, TKT Engineering is the market leader in Poland. After completing her MBA at INSEAD in Fontainebleau and a career step at Siemens Management Consulting in Germany and New York, Iris Ortner joined the management of IGO Industries, where she has managed the operations of the group, which is run by the fourth generation of the family, since 2013. IGO Industries is an international industrial group comprising more than 50 technology enterprises. The highly specialised firms pursue a common strategy of “integrated building technologies” and realise turn-key real estate projects worth billions from Qatar via Berlin to Vienna. The industrial group most recently generated a turnover of some six billion euros and employs around 24,000 staff.
Natalie Flatz, Chairwoman of LLB Österreich’s Supervisory Board, is convinced:
Thanks to her professional career in highly challenging roles, Iris Ortner has a highly diversified wealth of experience. Her technical education, her expertise in business management and her international experience reflect our understanding of diversity and comprehensive specialist knowledge - both aspects are deeply rooted in LLB. We are very proud that we could win her for the Supervisory Board of LLB Österreich.”
With assets under management of EUR 30 billion and more than 200 staff members, LLB (Österreich) AG is Austria’s leading asset management bank. As a fully owned subsidiary of Liechtensteinische Landesbank AG (LLB), Vaduz, LLB Österreich benefits from the stability and excellent rating of its owner and can build on 160 years of experience of the most venerable financial institution in the Principality of Liechtenstein. Since 2009 Austria is one of the three declared home markets of LLB Group next to Liechtenstein and Switzerland.
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Liechtensteinische Landesbank AG
Dr. Cyrill Sele
Head of Group Corporate Communications & Sustainability
Telephone +423 236 82 09
Fax +423 236 87 71