LGT lays foundation stone for expansion project in Vaduz

LGT lays foundation stone for expansion project in Vaduz

7 May 2024

Vaduz - LGT has laid the foundation stone for the bank's expansion project in Vaduz, which aims to create space for 200 new jobs. The construction work is now underway, with the bank expected to be able to move into the new building at the start of 2026.

According to a press release, LGT has experienced significant growth in its home location of Liechtenstein over recent years. For this reason, the bank, which is under the ownership and management of the Princely Family of Liechtenstein, has opted to expand its headquarters in Vaduz with the addition of a modern new building to create around 200 new jobs. The preparations and excavation work began a year ago, with civil engineering works getting underway a matter of weeks ago. A ceremony to celebrate the laying of the foundation stone was held on May 6.

As part of a ceremonial act, a time capsule containing that day's newspaper and the architectural plans was concealed within a floor slab, as the bank explains in the press release. "In recent years, we have not only recorded significant growth around the world, but also here in Liechtenstein. And growth requires extra space", comments Prince Max von und zu Liechtenstein, Chairman LGT, before adding: "Right from very beginning, our aim was not only to create additional space, but rather to design a building of high architectural quality with aesthetic appeal".

According to Roland Matt, CEO of LGT, sustainability and a strong regional focus are at the heart of the entire project for LGT. From planning to operation, the building is consistently geared towards sustainability and meets the highest international certification standards in the environmental sector, as the bank writes in the press release. Regionally sourced timber is being used in the building's visible façade, while at least half of the concrete used is to be recycled from other projects.

According to information from the bank itself, LGT had assets under management of 316 billion Swiss francs as at the end of 2023. The bank employs in excess of 5,600 staff at more than 30 locations in Europe, Asia, America, Australia and the Middle East.