Related party transactions

43 Related parties

The LLB Group is controlled by the Principality of Liechtenstein, which holds 57.5 percent of the bearer shares of Liechtensteinische Landesbank AG, Vaduz. At the end of the year under report, the LLB held 6.3 percent of its own shares (previous year: 7.7 percent), 3.7 percent were held by Thornburg Investment Management Inc. and less than 0.1 percent were held by members of the Board of Directors and the Board of Management. The remaining bearer shares are owned by the general public.

The related parties of the LLB Group comprise the Principality of Liechtenstein, associated companies, members of the Board of Directors and the Group Executive Management, as well as their close family members and enterprises which are controlled by these individuals through their majority shareholding, or their role as chairman and / or CEO in these companies, as well as their own pension funds.

Within the scope of its business activity, the LLB Group also conducts banking transactions with related parties. These transactions mainly involve loans, investments and services. The volumes of these transactions, the holdings and corresponding income and expenses are shown below.

See «Scope of consolidation» for a detailed list of the parent / subsidiary relationships of the LLB Group.

Compensation of key management personnel

 

Salary fixed*

Salary variable

Contribution to benefit plans and other social contributions

Share-based
payments

Entitlements

Total

in CHF thousands

2013

2012

2013

2012

2013

2012

2013

2012

2013

2012

2013

2012

Members of the Board of Directors

*

Fixed compensation fee, meeting allowances.

**

The Board of Management comprises six members.

1

The Chairman receives a fixed compensation for his 70-percent workload (prior year: 60-percent workload). He does not receive meeting allowances.

2

The contractual working relationship ended on 31 July 2012.

Hans-Werner Gassner, Chairman1

300

300

0

0

74

69

0

0

40

0

414

369

Markus Foser, Vice Chairman

125

125

0

0

10

10

0

0

30

0

165

135

Markus Büchel, Member

67

67

0

0

5

5

0

0

20

0

92

72

Felix Ehrat, Member until 24 September 2012

 

37

 

0

 

3

 

0

 

0

 

40

Peter Fanconi, Member until 15 November 2013

27

 

0

 

2

 

0

 

0

 

29

 

Ingrid Hassler-Gerner, Member

74

77

0

0

0

0

0

0

20

0

94

77

Patrizia Holenstein, Member

43

 

0

 

3

 

0

 

13

0

59

 

Roland Oehri, Member

70

70

0

0

5

5

0

0

20

0

95

75

Konrad Schnyder, Member until 24 September 2012

 

37

 

0

 

3

 

0

 

0

 

40

Total

706

713

0

0

99

95

0

0

143

0

948

808

 

 

 

 

 

 

 

 

 

 

 

 

 

Members of the Board of Management**

Roland Matt, CEO

622

620

100

40

136

152

0

67

100

80

958

959

Josef Fehr, CEO until 16 Januar 20122

 

397

 

0

 

99

 

0

 

0

0

496

Other members of the Board of Management

2'508

1'778

616

119

576

405

0

198

616

236

4'316

2'736

Total

3'130

2'795

716

159

712

656

0

265

716

316

5'274

4'191

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