Liechtenstein is becoming more and more attractive for wealthy customers, Alexander Putzer has told Bankenmagazin. The chief executive officer of the Raiffeisen Privatbank Liechtenstein has held his position for a year and foresees excellent prospects.
Alexander Putzer has been at the helm of the Raiffeisen Privatbank Liechtenstein AG for a year. In an interview in the latest issue of Bankenmagazin, the magazine published by the Liechtenstein Bankers Association (LBV), he revealed that he sees excellent opportunities for development in the German-speaking world. He added that the advantages of the Liechtenstein financial centre stood out.
Political and economic unrest in Europe during this time of Brexit is increasingly pushing wealthy customers to find a stable and secure location for their financial assets. Liechtenstein offers them the optimum conditions, commented Putzer. He added that there were positive developments in the funds business, which his institute is involved in as a depositary bank.
Thanks to its exceptional diversity, Liechtenstein as a location is of particular importance for customers, according to Putzer. The foundations of this, he explained, are Liechtensteins stability and EEA membership without also being part of a European joint liability agreement. In principal, Putzer foresees a positive outlook for the Liechtenstein financial centre.
However, the focus for now is on implementing existing and future regulations, he said. These regulations will determine to what extent the dynamic and focus on customers can be maintained. Putzer said: If this is a success, the financial centre can make the most of its strengths. The regulatory challenges can best be addressed by pooling strengths for both big and small players in the financial centre, according to Putzer.
Since March 2016, Putzer, as executive of the LBV, has been representing the smaller Liechtenstein banks in particular. He said in the interview that it was important to support the principle of proportionality.