Market view and Insights
The renowned Swiss business magazine Bilanz has designated LGT Bank Switzerland "Best Foreign Bank" in its 2021 private banking ratings.
In its 2021 bank ratings, the business magazine Bilanz for the 13th time recognized the four best private banks in the categories regional banks, national banks, private banks and foreign banks. LGT Bank Switzerland, which is part of LGT Group headquartered in Liechtenstein, impressed the jury with its outstanding performance, taking one of the top spots among several other banks and receiving the "Best Foreign Bank" designation from Bilanz. This is a reflection of LGT’s expertise as an international private bank with a multi-hub approach that has operated in Switzerland for over 15 years.
LGT impressed the jury in all six categories that were evaluated: interaction, holistic approach, transparency, costs, risk disclosure and portfolio structure. The bank of the Princely House of Liechtenstein's proactive, personalized advice and comprehensive investment proposal, in particular, received good marks. “The communication with LGT was outstanding. The investment proposal was tailored to the client’s needs and the costs were reasonable," says Professor Thorsten Hens, who headed the jury, in his assessment. "A very good overall performance," he concludes.
Confirmation as well as added incentive
Heinrich Henckel, CEO of LGT Bank Switzerland, is delighted about the outstanding result: "We aim to be a strong partner for our clients in their financial matters. Our very good rating in Bilanz’s private banking rating and the "Best Foreign Bank" designation are a welcome confirmation of this, but above all, they give us added incentive to continue to improve. In the coming years, LGT wants to focus on the area of sustainable investing. With our expertise in this segment, we are convinced that we can make a valuable contribution for our clients, society, the environment and the economy."
Last fall, the nine-member jury headed by Professor Thorsten Hens selected over 90 banks to participate in the ratings. They were asked to submit an investment proposal for a real test client, aged 80, with disposable assets of five million Swiss francs. The investment proposals were received in January 2021 – the jury selected the best 23 thereof. The proposals were then analyzed by the Institut für Vermögensaufbau (IVA) (Institute for Wealth Accumulation) in Munich based on 60 different criteria. The finalists selected were then given the opportunity to present their investment proposal to the client and the jury via Zoom.