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Coronavirus: LGT has taken comprehensive preventive measures, business operations are reliably secured

March 20, 2020

LGT's internal crisis organization has implemented comprehensive preventive measures to protect the health of our employees and clients and to ensure trouble-free operations in the interests of clients.

The coronavirus Covid-19 has a firm grip on the world and is now severely affecting private and professional life. In order to deal with the effects of this extraordinary situation, LGT activated its internal crisis organization some time ago and initiated various preventive measures. The primary aim of all initiatives is to protect the health of LGT employees and clients in the best possible way and to ensure trouble-free operations in the interests of clients.

For the duration of the crisis, we have adapted our working models in order to maintain our business operations under these special circumstances and to provide our clients with a reliable service - even if this is not currently personally possible.

What measures have been taken, among others?

  • Split of various teams into different locations, home offices – where possible - and sometimes into different shifts
  • Merging of different teams to ensure representation at all times
  • Cancellation of all customer events until at least May
  • Internal meetings are mainly held by telephone. Physical meetings, especially between locations, are limited to an unavoidable minimum
  • Additional hygiene measures in the offices

We are convinced that these measures will help us to continue our business operations reliably. The maintenance of the services entrusted to us by our customers is guaranteed at all times. We are available to you and will be happy to assist you with your requirements and individual needs, even in this challenging situation in which we all find ourselves.

Although we make every effort to provide you with the usual high standard of service, the physical separation of the teams could still cause short delays from time to time. We therefore ask for your understanding.

LGT Group is well-protected in the event of negative economic developments. Thanks to its solid refinancing and asset base, LGT Bank's liquidity is well above the legally required minimum liquidity ratios. With a core capital ratio (Tier 1) of 19.9 percent, LGT is very well capitalized and has high liquidity. LGT Bank Ltd. is one of the few purely private banks that has had its creditworthiness checked for many years by both Moody's and Standard & Poor's, consistently achieving very high ratings. The creditworthiness of its parent company, LGT Group Foundation, is decisive for the rating. The first-class ratings are attributable to LGT's strong balance sheet and earnings power (Moody's: Aa2 ; Standard & Poors: A+). You can find detailed information in our Financial Stability Fact Sheet.

In the current highly volatile and difficult financial markets, our investment experts are closely monitoring current developments and provide our client advisors with investment recommendations and information for their discussions with you, our clients.

The stable trading infrastructure, a high level of automation and good cooperation with our client advisors ensure that the increased trading volume is optimally processed. The trading desks in Europe and Asia are set up in such a way that they remain tradable at all times, even if governments tighten further measures.

If you have any questions, your client advisor will be happy to help you.

We wish you, your customers and your family health and all the best in these turbulent times. Many thanks for your confidence in us as your reliable financial partner.

Your LGT