Banque Havilland (Liechtenstein) is undergoing a voluntary liquidation and has informed the Financial Market Authority of Liechtenstein (FMA) and the Swiss Financial Market Supervisory Authority (Finma) of the corresponding steps.

This decision was made at an extraordinary general meeting of the bank on July 26.

As a result, Banque Havilland (Liechtenstein) is no longer authorized to conduct or offer banking activities.

Bank Remains Silent on Reasons

Banque Havilland (Liechtenstein) has not disclosed the reasons for this move. On its website, it emphasizes that the decision is not due to solvency or liquidity issues but «reflects the group's intention to cease its operations in Liechtenstein and Switzerland.»

«The Banque Havilland (Liechtenstein) is financially stable and sound, and we assure you that the liquidation process will be carried out in an orderly manner, in close collaboration with the FMA and Finma, in compliance with all legal requirements, and with due regard for the interests of all stakeholders involved,» the statement reads.

Threat of Licence Withdrawal in Luxembourg

This development was anticipated due to ongoing issues, particularly in Luxembourg, as reported by finews.ch in mid-July. The European Central Bank (ECB) and, consequently, the Luxembourg financial regulator Commission de Surveillance du Secteur Financier (CSSF) intend to close Banque Havilland in Luxembourg. This situation has now impacted the subsidiary in Liechtenstein/Switzerland.

Banque Havilland employs approximately 40 staff in Liechtenstein and manages 1.6 billion Swiss francs in client assets (as of the end of 2023).