Information unaudited Information ungeprüft“Itʼs the whole package that counts”

2025 was a year of decisive developments for the LLB Group. Several key positions within the Group were newly filled – including roles on the Group Executive Board. What stood out: many of these appointments were internal successors. In conversation with the members of the Nomination and Compensation Committee (NCC), we take a look behind the scenes. How are such decisions made – and why do internal appointments appear to be so popular?

Mr Wohlwend, how does a typical nomination process at the executive management level work?

This is one of the most important processes we manage as a Board of Directors. We approach it very deliberately and carefully. First, we clarify what requirements the role needs to fulfil going forward. Then we assess both internal and external options. This ensures we find the best solution for the company. If someone takes on the role on an interim basis – as was recently the case with our new Group CEO, Christoph Reich – that brings an added benefit: we see how the individual performs in the role, and at the same time, they can determine whether they feel comfortable in the new position. This allows the decision to mature on both sides and builds an additional layer of trust.

Mr Russenberger, what criteria are decisive for the Board of Directors when selecting candidates?

It always comes down to the interplay of various skills. We look at leadership strength, strategic thinking, industry experience, and the ability to develop the company further. As a value-oriented organisation, a shared foundation of values – the “cultural fit” – is just as important to us. Only when our leaders wholeheartedly embody the values of our bank can they expect the same from the wider workforce. In short: who brings the complete package needed to lead the LLB Group successfully into the future? Both Christoph Reich and Markus Schifferle – whom we appointed CFO in November 2025 and who was officially confirmed by the FMA Liechtenstein in January – fulfil this requirement. Theyʼve been part of the Group for many years, have helped shape it, and at the same time bring a fresh perspective. It was precisely this combination that won us over.

Ms Frick-Marxer, how do you assess the balance between internal and external appointments to key positions?

We invest heavily in the people development process – from bank clerks and specialists to the Group Executive Board. As a result, we are often able to fill positions of responsibility internally. This shows that our talent development is working. Of course, we also need a regular breath of fresh air. This ensures that we enrich our expertise with external knowledge and bring new perspectives into the company. At the end of the day, itʼs always about finding the best person for the job.

And how important is it to the Board of Directors to promote leaders from within the bankʼs own ranks?

Very important. We want to offer prospects and make use of potential. If someone has performed well over many years and taken on responsibility, a promotion sends a strong signal – both to that individual and to all employees. It shows: you can grow with us. But itʼs not enough simply to have been here long enough. Commitment to delivering results, potential, and qualifications all have to be in place.

Mr Russenberger, be honest – do internal candidates have an advantage?

No, not automatically. They know the company, which is certainly an advantage. But we always take an objective view: who is best suited to the role in order to meet future challenges? If that person is external, then we choose them. In 2025, for instance, we were looking for a successor to Urs Müller, who retired as Head of Private & Corporate Banking Michael Hartmann impressed us with his broad expertise and many years of experience in the Swiss financial sector. Weʼre very pleased with this appointment too – Michael settled into his new role quickly and effectively.

Mr Wohlwend, the current strategy ends in 2026. The new one needs to be developed and prepared. Does the appointment of two internal members to the Group Executive Board mean that the future strategic direction will not change much?

The appointment comes at an ideal time. The new strategy is being developed from the ground up – and both of them have the opportunity to shape this process right from the start. They know the company, yet still bring fresh ideas to the table. And of course, Michael Hartmann, who has joined the process from outside, also contributes a new perspective. This gives us the chance to continue what has proven effective while also introducing fresh impulses. Continuity and renewal – both are possible when you have the right people on board.

And you do?

Yes. Weʼre convinced of that.