Liechtensteinische Landesbank announced top-level boardroom changes yesterday, with two members, Dr Felix Ehrat and Konrad Schnyder, stepping down for personal and professional reasons, the Vaduz-based bank said.

Their resignations, taking effect from 24 September, leave two vacancies. The bank will put forward replacement candidates at the next shareholder general meeting on 3 May next year, it said in a statement.

Due to “new and more complex challenges”, it is no longer possible for the two men to find the time required to exercise their role, the bank said.

LLB is Liechtenstein’s oldest bank, overseeing total client assets, as at 30 June this year, of SFr48.7 billion ($51.9 billion).