1. Group structure and shareholders
1.1 Group structure
1.1.1 Presentation of operating Group structure
As a joint-stock company, VP Bank is constituted in accordance with Liechtenstein law. It is the parent company of VP Bank Group. The organisation chart (➔ page 16) shows the Group’s operating structure and from page 92 onwards, the detailed segment reporting is set out.
The Executive Board of the parent bank is designated as “Group Executive Management (GEM)”. It assumes responsibility for the operational management of the parent bank as well as assuming the function as Executive Board for VP Bank Group.2 The members of the Executive Board are represented on the boards of directors BoD) of the subsidiary companies. As a general rule, either the Chief Executive Ofﬁcer or another member of the Group Executive Management acts as Board Chairman of any given subsidiary company.
- In principle, the term “Executive Board” is used in this chapter.
1.1.2 Listed companies included in the scope of consolidation
The registered shares A of VP Bank, Vaduz are listed on SIX Swiss Exchange; the B registered shares of the company are not quoted.
No other listed companies are included in the scope of consolidation.
1.1.3 Unlisted companies included in the scope of consolidation
Group subsidiaries and significant shareholdings included in the scope of consolidation together with their corporate name, registered office, share capital as well as the percentage of share capital held are set out in the Financial Report (➔ page 163).
1.2 Significant shareholders (anchor shareholders)
As at 31 December 2019, the following shareholders have declared that they own more than 10 per cent of the share capital of VP Bank or exercise more than 5 per cent of the voting rights.
Registered shares A
Registered shares B
1 incl. institutions controlled by the Foundation
During the financial year, no further disclosure notiﬁcations were received as foreseen by Art. 25 of the Liechtenstein Law Governing the Disclosure of Signiﬁcant Shareholdings in a Listed Company and by Art. 120–124 of the Swiss Financial Market Infrastructure Act (FMIA). There exist no shareholder agreements.
VP Bank has entered into no cross-shareholdings with other companies involving share capital or voting rights.