Liechtensteinische Landesbank (Österreich), the Austrian subsidiary of Liechtensteinische Landesbank (LLB), has appointed Robert Löw as its new CEO.

Löw will assume the new responsibility on 14 May 2019.

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He replaces Bernhard Ramsauer, who became the CEO following LLB’s acquisition of Semper Constantia Privatbank.

In the new role, Löw will manage private banking, marketing and communication.

He will also chair the executive board of LLB Österreich.

Ramsauer is expected to join the board of directors following the general meeting.

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LLB chairman of the board of directors Gabriel Brenna said: “I would like to thank Bernhard Ramsauer for his great dedication.

“As CEO, he has been a key factor in our successful takeover of Semper Constantia and its merger with LLB Österreich, creating the leading wealth management bank in Austria.”

Meanwhile, Harald Friedrich will be deputy CEO and board member for markets.

Custodian banking, investment funds, and real estate will fall under Friedrich’s remit.

Ramsauer said: “Robert Löw is very well established at the LLB Group and in the Austrian market. I am pleased to be able to pass my operational responsibilities to him.

“It also makes me happy that Harald Friedrich, who has served as my partner for many years, will become Deputy CEO and Board Member for Markets for LLB Österreich’s important Institutional Business and will be able to focus completely on client services and acquisition.”

LLB has been present in Austria since 2009.

The bank’s Austrian unit has a staff headcount of 250 and manages over €20bn in assets.