LLB Concludes Acquisition of ZKB Austria

Liechtensteinische Landesbank AG (LLB) has completed the acquisition of Zürcher Kantonalbank Österreich AG, effective January 9, 2025. This follows the purchase agreement signed on July 1, 2024, covering client assets valued at approximately EUR 3.4 billion. The transaction is part of LLB's ACT-26 strategy to strengthen its position in Austria, pending regulatory approval for the merger with LLB (Österreich) AG by mid-2025.

With this acquisition, LLB enhances its status as a leading asset management bank in Austria, showcasing synergy in business models and cultural fit with ZKB Austria. New management roles have been outlined, with Christian Nemeth joining as the head of Asset Management post-merger.

This move fortifies LLB's foothold in Austria, complementing its presence in Liechtenstein, Switzerland, and Germany, ensuring proximity to clientele and broadening its growth potential.