Related party transactions

In 2011, the Principality of Liechtenstein maintained its 57.5 percent of the LLB shares unchanged. At the end of the report year, LLB held 7.7 percent of its own shares, 4.5 percent were held by Thornburg Investment Management Inc. and 0.1 percent by the members of the Board of Directors and the Board of Management. All remaining shares were in free float as at 31 December 2011.

The related parties of the LLB Group comprise the Principality of Liechtenstein, associated companies, the Board of Directors and the Board of Management, 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.

Compensation

(XLS:)

in CHF thousands

Salary fixed*

Salary variable

Contributions to benefit plans

Share-based compensation

Total

 

2011

2010

2011

2010

2011

2010

2011

2010

2011

2010

*

Fixed compensation fee, meeting allowance (for meetings other than board meetings).

**

The Board of Management comprises four members.

1

The Chairman receives a fixed compensation for his 60-percent workload (previous year: 50-percent workload). He does not receive a meeting allowance.

2

Including the compensation in accordance with regulations for the 25th long-service anniversary.

3

Elfried Hasler up to 30 June 2011 and Urs Müller from 1 April 2011.

Members of the Board of Directors

 

 

 

 

 

 

 

 

Hans-Werner Gassner, Chairman BoD

3241

295

0

48

45

41

0

0

369

384

Markus Foser, Vice Chairman BoD

133

132

0

36

0

0

0

0

133

168

Markus Büchel, Member

75

66

0

24

0

0

0

0

75

90

Felix Ehrat, Member from 6 May 2011

44

 

0

 

0

 

0

 

44

 

Ingrid Hassler-Gerner, Member

91

86

0

24

0

0

0

0

91

110

Siegbert Lampert, Member until 6 May 2011

24

58

0

24

0

0

0

0

24

82

Roland Oehri, Member

81

73

0

24

0

0

0

0

81

97

Konrad Schnyder, Member

54

59

0

24

0

0

0

0

54

83

Total

826

769

0

204

45

41

0

0

871

1'014

 

 

 

 

 

 

 

 

 

 

 

Members of the Board of Management**

 

 

 

 

 

 

 

 

 

Josef Fehr, CEO

8032

684

0

62

118

116

0

160

921

1'022

Other members of the Board of Management

1'6883

1'528

0

145

259

238

0

376

1'947

2'287

Total

2'491

2'212

0

207

377

354

0

536

2'868

3'309

Loans Board of Directors

(XLS:)

in CHF thousands

Fixed mortgages

Variable mortgages

Total

 

2011

2010

2011

2010

2011

2010

Members of the Board of Directors

 

 

 

 

 

Hans-Werner Gassner, Chairman BoD

0

0

0

0

0

0

Markus Foser, Vice Chairman BoD

0

0

0

0

0

0

Markus Büchel, Member

1'167

1'218

0

0

1'167

1'218

Felix Ehrat, Member from 6 May 2011

0

 

0

 

0

 

Ingrid Hassler-Gerner, Member

0

0

0

0

0

0

Siegbert Lampert, Member until 6 May 2011

0

0

0

0

0

0

Roland Oehri, Member

0

0

0

0

0

0

Konrad Schnyder, Member

0

0

0

0

0

0

Closely associated persons

1'846

2'503

0

157

1'846

2'660

Total

3'013

3'721

0

157

3'013

3'878

At 31 December 2011, the maturities of the fixed mortgages ranged between 5 and 59 months (previous year: between 2 and 41 months) at interest rates of 1.25 to 2.625 percent p.a. (previous year: 1.25 to 2.625 %).

Loans Board of Management

(XLS:)

in CHF thousands

Fixed mortgages

Variable mortgages

Total

 

2011

2010

2011

2010

2011

2010

Members of the Board of Management

 

 

 

 

 

 

Josef Fehr, CEO

0

0

0

508

0

508

Other members of the Board of Management

3'498

1'893

137

8

3'635

1'901

Closely associated persons

1'408

0

0

35

1'408

35

Total

4'906

1'893

137

551

5'043

2'444

At 31 December 2011, the maturities of the fixed mortgages ranged between 4 and 82 months (previous year: between 16 and 94 months) at interest rates of 0.95 to 2.875 percent p.a. (previous year: 1.80 to 2.875 %).

Of the total amount for mortgages, CHF thousands 1'526 (previous year: CHF thousands 1'025) was granted at the preferential interest rate for staff, the remainder was subject to the standard market interest rate.

Transactions

Within the scope of its business activities, the LLB Group also carries out banking transactions with related parties. These transactions relate principally to loans, deposits and services. The volumes of these transactions, their scope and the corresponding income and expense are shown on the next pages.

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