LLB Österreich has become the leading asset management bank in Austria. The now approved takeover of the Austrian private banking clients of Credit Suisse (Luxembourg) has contributed to this. As a result, LLB is planning a new location in Salzburg.

LLB Österreich is taking over banking support for Credit Suisse Österreich’s high-net-worth clients. The Austrian Federal Competition Authority approved a corresponding agreement without conditions. According to information provided by Liechtensteinische Landesbank on this, it is first planning to open an additional location in Salzburg. Its headquarters have been in Vienna since 2009.

The press release from LLB Österreich goes on to say that this strategic step is underscoring its ambitions to grow further in the western provinces of Austria as well as in southern Germany. According to a quote from Robert Löw, CEO of LLB Österreich, the approval from the authorities “has cleared the path for the Austrian clients of Credit Suisse to continue receiving top-quality banking services through our excellent team of advisors.”

With managed assets of over 25 billion euros and around 240 employees, LLB Österreich has become the leading asset management bank in Austria according to the press release.  In December 2020, the trade magazine Börsianer named LLB Österreich as the best private bank in Austria.

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