Following the Government's release of their new COVID-19 Recovery Strategy, we have carefully reviewed the details. Our priority remains the health and well-being of our staff and our clients, whilst continuing to deliver an uninterrupted service to you. With this at the forefront of our decision, we have concluded that our employees will continue to work from home until step three of the Government's Recovery Strategy has been reached. Once we reach this stage, it is likely that we will begin a phased return to the office.
We continue to monitor the coronavirus situation closely, and will keep you updated as appropriate. Should you have any questions, please do not hesitate to contact your LGT Vestra contact.
The COVID-19 situation continues to develop and is now affecting private and professional life across the world. In order to deal with the effects of this extraordinary situation, we activated our internal crisis management team some time ago to implement business continuity measures. Our primary aim is to protect the health and well-being of our people and our clients, whilst continuing to deliver an uninterrupted service to you.
In line with the Government’s guidance, all of our employees are working from home and have been doing so, successfully, since 16 March 2020. We have invested in the technology and training to allow us to operate remotely and therefore would like to assure you that all the necessary steps have been taken to ensure that our service to you operates with as little impact as possible.
We would like to reassure you that, as part of the LGT Group, we are well protected in the event of negative economic developments. LGT Bank's liquidity is well above the legally required minimum liquidity ratios, due to the bank's solid refinancing and asset base. With a core capital ratio (Tier 1) of 19.9 percent, LGT is very well capitalised and has high liquidity. LGT Bank Ltd. is one of the few private banks that has had its creditworthiness checked regularly for many years by both Moody's and Standard & Poor's, consistently achieving very high ratings (Moody's: Aa2 ; Standard & Poors: A+). The creditworthiness of LGT Bank's parent company, LGT Group Foundation, is an important factor for the rating. The first-class credit ratings are attributable to LGT's strong balance sheet, conservative lending strategy and earnings power, the latter based on over CHF 200bn of Assets under Management, as at March 2020.
Fraudsters are looking to take advantage of the coronavirus and we therefore ask you to remain vigilant and to please bear with us should we request additional confirmation of requests. When working from home, continue to be on your guard against those purporting to work for internet providers asking to gain access to your computer or trying to convince you to make irrational payments. These fraud attempts can seem very plausible so we ask you to take care.
We continue to monitor the coronavirus situation closely, and will keep this page updated as appropriate. Should you have any questions, please do not hesitate to contact your LGT Vestra US contact. Contact details can be found here: https://www.lgtvestra-us.com/en/about-us/lgt-vestra-us/lgt-vestra-us-people/
We wish you and your family good health and all the best in these turbulent times and we thank you for your continued trust in us.