Related party transactions

42 Related parties

The LLB Group is controlled by the Principality of Liechtenstein, which holds 57.5 percent of the bearer shares of Liechtensteinische Landesbank AG, Vaduz. At the end of the year under report, the LLB held 6.4 percent of its own shares (previous year: 6.3 %), 3.7 percent were held by Thornburg Investment Management Inc. and less than 0.1 percent were held by members of the Board of Directors and the Board of Management. The remaining bearer shares are owned by the general public.

The related parties of the LLB Group comprise the Principality of Liechtenstein, associated companies, members of the Board of Directors and the Group Executive Management, as well as their close family members and enterprises which are controlled by these individuals through their majority shareholding, or their role as chairman and / or CEO in these companies, as well as their own pension funds.

Within the scope of its business activity, the LLB Group also conducts banking transactions with related parties. These transactions mainly involve loans, investments and services. The volumes of these transactions, the holdings and corresponding income and expenses are shown below.

See “Scope of consolidation” for a detailed list of the parent / subsidiary relationships of the LLB Group.

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Compensation of key management personnel

 

Salary fixed *

Salary variable

Contribution to benefit plans and other social contributions

Share-based payments

Entitlements

Total

in CHF thousands

2014

2013

2014

2013

2014

2013

2014

2013

2014

2013

2014

2013

Members of the Board of Directors

*

Fixed compensation fee, meeting allowances.

**

The Chairman receives a fixed compensation for his 70-percent workload (prior year: 60-percent workload). He does not receive meeting allowances.

***

The Board of Management comprises six members.

Hans-Werner Gassner, Chairman **

300

300

0

0

74

74

0

0

40

40

414

414

Markus Foser, Vice Chairman

116

125

0

0

9

10

0

0

30

30

155

165

Markus Büchel, Member

64

67

0

0

5

5

0

0

20

20

89

92

Peter Fanconi, Member until 15 November 2013

 

27

 

0

 

2

 

0

 

0

 

29

Ingrid Hassler-Gerner, Member until 09 May 2014

25

74

0

0

0

0

0

0

7

20

32

94

Patrizia Holenstein, Member

65

43

0

0

5

3

0

0

20

13

90

59

Roland Oehri, Member

70

70

0

0

5

5

0

0

20

20

95

95

Gabriela Nagel-Jungo, Member since 10 May 2014

32

0

0

0

2

0

0

0

13

0

47

0

Urs Leinhäuser, Member since 10 May 2014

42

0

0

0

3

0

0

0

13

0

58

0

Total

714

706

0

0

103

99

0

0

163

143

980

948

 

 

 

 

 

 

 

 

 

 

 

 

 

Members of the Board of Management ***

Roland Matt, CEO

637

622

115

100

182

136

0

0

115

100

1'049

958

Other members of the Board of Management

2'430

2'508

794

616

807

576

0

0

794

616

4'825

4'316

Total

3'067

3'130

909

716

989

712

0

0

909

716

5'874

5'274

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