Investments in core and growth markets
Expansion of services
In addition to our focus on selected core and growth markets, we are already making targeted investments in the long-term expansion of our international growth markets in order to attain the critical mass required. Accordingly, we are extending the specific product offer for our growth markets, for example in the form of special money market products for clients from Central and Eastern Europe. In the Middle East we are providing our clients with access to the stock markets in Dubai and Abu Dhabi. Furthermore, we are also enlarging our advisory teams in Dubai, Abu Dhabi, Zurich-Erlenbach and Geneva.
The markets in Central and Eastern Europe, as well as in the Middle East, form key cornerstones of our private banking strategy. A further key element is our bank in Vienna, LLB (Austria) AG. Just four years after commencing business operations it is already a firm component of the Austrian banking center, which according to the International Monetary Fund (IMF) is one of the 25 key financial centers in the world. LLB Austria is growing robustly and successfully attracting new clients – both in the Austrian home market and in the growth markets of Central and Eastern Europe.
Advice is a core competence
Consistent client orientation decides our position in the target markets. Against this background, we are investing in client care and in the quality of our services. In 2013, we concentrated on the advanced training of our client advisors. They not only have to identify and fulfil ever changing client requirements, they also have to keep abreast of the increasingly complex international regulatory provisions. Accordingly, we made great efforts groupwide to enhance our expertise in the complex area of cross-border banking. The expansion of international taxation expertise and competence in the field of wealth structuring have a high priority for the LLB Group. Furthermore, we have refined our segmentation model and reduced the number of clients cared for by each client advisor. Therefore, for our clients, we are a reliable, flexible and long-term partner.