Liechtenstein's LGT sees positive 2010 inflows- WSJ
* Has had good start to 2010, despite tax haven pressure
* Confident on 2010 performance, chief executive tells WSJ
ZURICH, Feb 4 (Reuters) - Liechtenstein's LGT Bank has had a good start to 2010 and expects "pretty positive" net asset inflow for the full year, despite ever increasing pressure on tax havens, its chief executive told the Wall Street Journal.
Liechtenstein's largest bank, which became embroiled in a tax evasion scandal in 2008 after Germany paid a former employee for client data, has made an effort to become more transparent and is attracting client funds outside its home base. [ID:nLDE6101VZ]
Germany has told Switzerland it is ready to pay for data on cross-border tax cheats, dealing a fresh blow to bank secrecy laws in Liechtenstein's larger neighbour as it struggles to break a deadlock with U.S. tax authorities over disclosure at banking giant UBS (UBSN.VX)(UBS.N).
LGT Chief Executive Prince Max von und zu Liechtenstein told the newspaper he was confident for the new year.
"It's obviously still very early, but at the moment my clear assumption is that there will be pretty positive net asset inflow this year," Prince Max said, adding the bank had a positive net asset inflow in all its centres except in Liechtenstein.
LGT, owned by Liechtenstein's ruling family, suffered 1.6 billion Swiss francs ($1.51 billion) of net client withdrawals in the first half of 2009 -- or about 2 percent of total assets -- after a net outflow of 1.3 billion francs for the whole of 2008.
LLB (LLB.S) and VP Bank (VPB.S), Liechtenstein's No. 2 and No. 3 bank, also suffered heavy outflows due to the tax furore surrounding offshore centres. [ID:nLR579380] (Reporting by Sam Cage; Editing by Sharon Lindores) ($1=1.060 Swiss Franc)
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