AGP Executive Report

Royal Succession Reform: Liechtenstein has ended male-only inheritance after 400 years, switching from male primogeniture to absolute primogeniture so the firstborn child can inherit regardless of sex. Banking Watch: LGT reported first-half 2026 profit up 17% to CHF 281.6m and record assets under management above CHF 400bn for the first time, driven by net inflows and Asia momentum. Local Finance: LLB Group also posted a stronger first half, with net profit rising to SFr105.0m and assets under management reaching a record SFr115bn as net new money climbed to SFr2.2bn. Cross-Border Tech & Identity: A report highlights decentralized identity standards moving into real cross-border credential checks, with Liechtenstein named among EBSI participants. International Diplomacy: Liechtenstein’s participation is noted as Bolivia’s National Assembly approved an ambassador appointment to Switzerland. EU Alignment: The EU welcomed Liechtenstein among eight non-EU countries aligning sanctions against Belarus.

Royal Reform: Liechtenstein has ended centuries of male-only succession, switching to absolute primogeniture so the firstborn child can inherit the throne regardless of gender. Finance Watch: LGT says first-half 2026 profit rose 17% to SFr281.6m and assets under management hit a record SFr412.6bn, topping CHF 400bn for the first time. Banking Update: LLB Group reported first-half 2026 profit up 15.3% to SFr105.0m, with net new money inflows of SFr2.23bn and assets under management reaching a record SFr115bn. EU Alignment: The EU welcomed Liechtenstein and seven other non-EU European states aligning with sanctions against Belarus. Digital Identity: A report highlights cross-border credential verification using decentralized identity standards, naming Liechtenstein as part of the EBSI network. Diplomatic Move: Liechtenstein’s participation is noted as Liechtenstein-linked parliamentary approval authorizes Venezuela’s ambassador to Switzerland.

Royal Succession Reform: Liechtenstein has ended centuries of male-only inheritance, switching from male primogeniture to absolute primogeniture so the firstborn child can inherit the throne regardless of gender, a change announced during National Day celebrations and aimed at ensuring the best-prepared heir leads the principality. Banking Spotlight: LGT, owned by the Princely Family, reported first-half 2026 profit up 17% to SFr281.6m and record assets under management above SFr400bn for the first time, driven by net inflows and Asia expansion. Regional Security & Diplomacy: Germany’s foreign minister warned in Bern that neutrality does not protect Switzerland from Russia’s hybrid threats, pointing to vulnerabilities in critical infrastructure across the Alpine region. EU Sanctions Alignment: The EU welcomed eight non-EU countries, including Liechtenstein, pledging to align with new restrictive measures against Belarus. Culture & Community: Tibetan communities across Europe held a large commemoration in Geneva for the 49th day since Lobga Rangzen’s self-immolation, with participants from Switzerland and Liechtenstein among others.

Royal Succession Reform: Liechtenstein has ended centuries of male-only succession, switching to absolute primogeniture so the firstborn child can inherit the throne regardless of gender, a change announced on National Day and aimed at ensuring the “best prepared” heir leads the principality. Banking Watch: LGT reported first-half 2026 results with profit up 17% to SFr281.6 million and assets under management rising 7% to a record SFr412.6 billion, driven by net new inflows and momentum in Asia. Regional Sanctions: Liechtenstein is among eight non-EU countries that have aligned with the EU’s latest Belarus sanctions, pledging to conform to restrictions tied to support for Russia’s war in Ukraine. Finance & Security Context: The week also brought broader European security warnings about Russia’s hybrid threats reaching neutral states like Switzerland, with the Alpine region flagged as a key vulnerability corridor. Trade Shock (Liechtenstein Mentioned): US drone tariffs under Section 232 take effect September 3, with Liechtenstein included in a reduced 15% cap only if “substantially all” critical technology comes from qualifying origins.

Royal Succession Reform: Liechtenstein has ended centuries of male-only inheritance, switching from male primogeniture to absolute primogeniture so the firstborn child can inherit the throne regardless of gender. Banking Spotlight: LGT reported first-half 2026 profit up 17% to SFr281.6m and record assets under management of SFr412.6bn, breaking the CHF 400bn mark for the first time, with strong net inflows and momentum in Asia. Local Finance & Growth: LLB Group also posted solid results for the first half of 2026, with profit rising to SFr105.0m and net new money climbing to SFr2.2bn, alongside record client assets. EU Sanctions Alignment: Liechtenstein is among eight non-EU countries that have agreed to align with the EU’s latest sanctions against Belarus over support for Russia’s war in Ukraine. International Security Context: A German foreign minister warned in Bern that Russia’s hybrid threats can reach neutral countries too, highlighting vulnerabilities in critical infrastructure across the Alpine region. Crypto Tax Pressure (UK): HMRC sent more than 81,000 “nudge” letters to UK crypto investors as part of a crackdown on suspected unpaid tax.

Royal Succession Reform: Liechtenstein has formally ended male-only primogeniture, switching to absolute primogeniture so the first-born child can inherit the throne regardless of gender—starting with future descendants only. Vatican Finance Appointments: Pope Leo XIV’s Council for the Economy includes Liechtenstein princess Gisela Bergmann, adding fresh attention to Vatican financial reform efforts. Banking Update: LLB Group reported first-half 2026 net profit of SFr105.0 million (+15.3%), with record assets under management at SFr115 billion and net new money inflows of SFr2.2 billion. EU Sanctions Alignment: Liechtenstein is among eight non-EU countries that have agreed to align with the EU’s latest Belarus sanctions, covering goods, technology, and crypto-asset related restrictions. Regional Policy Watch: Switzerland’s immigration “safeguard clause” talks include a proposed immigration levy tied to safeguard triggers—relevant for Liechtenstein’s EFTA context. Tech & Trade Shockwaves: The US announced Section 232 drone tariffs taking effect Sept 3, with rates up to 100% and reduced caps for qualifying countries including Liechtenstein.

Royal Succession Reform: Liechtenstein has ended male-only succession, switching to absolute primogeniture so the first-born child can inherit the throne regardless of gender; the change applies only to future descendants, leaving Prince Hans-Adam II in place and Hereditary Prince Alois as heir. EU Sanctions Alignment: The EU welcomed eight non-EU countries—including Liechtenstein—agreeing to align with new restrictive measures against Belarus tied to Russia’s war in Ukraine, expanding limits on military-linked goods and crypto-related activity. Banking Update: Liechtensteinische Landesbank (LLB) reported first-half 2026 profit up 15.3% to SFr105.0 million, with record assets under management at SFr115 billion and net new money inflows of SFr2.2 billion. Vatican Finance Role: Pope Leo XIV appointed Princess Gisela of Liechtenstein to the Vatican’s Council for the Economy, adding another high-profile Liechtenstein connection to the Holy See’s financial oversight. Cybersecurity Watch: A major France tax-data breach involving stolen logins exposed details on 678,000 people and businesses, underscoring ongoing risks for government systems.

Royal Succession Reform: Liechtenstein has ended male-only succession and adopted absolute primogeniture, meaning the first-born child can inherit the throne regardless of gender; the change was approved by a two-thirds vote within the Princely House and applies to future descendants, with Hereditary Prince Alois still the heir. EU Sanctions Alignment: Liechtenstein is among eight non-EU countries agreeing to align with the EU’s latest Belarus sanctions, aimed at limiting support for Russia’s war in Ukraine, including restrictions tied to military and crypto-asset activities. Vatican Finance Appointment: Pope Leo XIV named Princess Gisela of Liechtenstein to the Vatican’s Council for the Economy, bringing a Liechtenstein royal into oversight of the Holy See’s finances. Cybersecurity Watch: France’s tax authority DGFiP disclosed a breach involving data on 678,000 people and businesses accessed via stolen credentials, raising fresh privacy and fraud concerns across Europe. Business & Finance: VP Bank’s Singapore branch appointed Vincent Koo as Chief Risk Officer, while LGT Wealth India named Harsh Agarwal as Chief Investment Officer for equities.

Royal Succession Reform: Liechtenstein has formally ended male-preference succession, switching to absolute primogeniture so the first-born child can inherit the throne regardless of gender—Hereditary Prince Alois said the change was backed by a two-thirds vote within the Princely House and will not affect the current leadership. Vatican Finance: Pope Leo XIV has appointed Princess Gisela Bergmann of Liechtenstein to the Vatican’s Council for the Economy, adding a 36-year-old with engineering and investment banking experience to the body overseeing the Holy See’s finances. Banking Appointments: LGT Wealth India named Harsh Agarwal as Chief Investment Officer for equities, while VP Bank Singapore appointed Vincent Koo as Chief Risk Officer effective 24 August. Cyber & Privacy: France’s tax authority breach involving 678,000 people is raising fresh EU privacy concerns, with critics warning that bulk government data transfers can fuel fraud. Regional Protest: More than 200 Tibetans and supporters gathered in Bern, with Liechtenstein-linked organisers, to protest China’s assimilation policies and mark the 44th day since Lobga Rangzen’s self-immolation. Travel & Business: Golden Eagle Luxury Trains unveiled a 10-day Danube Express plus Zeppelin airship tour that includes Liechtenstein.

Royal Succession Reform: Liechtenstein’s Princely House has formally moved from male-preference succession to absolute primogeniture, meaning the first-born child—regardless of gender—will inherit the throne. The change was backed by a two-thirds vote of eligible family members and announced during National Day celebrations, with no impact on the current leadership (Prince Hans-Adam II remains head of state; Hereditary Prince Alois carries out most duties). Banking Appointments: VP Bank’s Singapore branch named Vincent Koo as Chief Risk Officer, effective 24 August, tasking him with risk, control and operational functions. Vatican Finance Role: Pope Leo XIV appointed Princess Gisela of Liechtenstein to the Vatican’s Council for the Economy, placing her among lay experts overseeing finances. EU Sanctions Alignment: Liechtenstein joined EU measures extending sanctions against Iran, aligning national policy with the bloc’s updated restrictions. International Protest in Bern: More than 200 Tibetans and supporters gathered near the Swiss Parliament in Bern, including Liechtenstein-based organisers, to protest China’s assimilation policies in Tibet. Cybersecurity Watch: A French tax agency breach exposed sensitive tax details for about 678,000 people, raising concerns about targeted impersonation scams.

Royal Succession Reform: Liechtenstein’s Princely House has ended male-heir priority, switching from male primogeniture to absolute primogeniture so the first-born child—regardless of sex—can inherit the throne; the change was announced on National Day and approved by a two-thirds majority among eligible family members, with no immediate effect on the current line. EU Sanctions Alignment: Liechtenstein is among nine European countries (plus Ukraine) aligning national policy with the EU’s decision to extend sanctions on Iran, citing Tehran’s military support for Russia and actions affecting regional security and freedom of navigation. US Trade Shock for Drones: The US has announced new drone and component tariffs under a national security review, with duties up to 100% on selected “sensitive” drones and parts, while some allied markets face lower rates—raising the prospect of higher costs and supply-chain shifts. UK Immigration Update: The UK clarified who can stay without applying for the EU Settlement Scheme, including specific conditions for certain foreign nationals.

Royal Succession Reform: Liechtenstein marked National Day by ending male-heir priority and switching to absolute primogeniture, so the first-born child can inherit the throne regardless of sex; the change applies to future descendants of Hereditary Prince Alois and Princess Sophie and won’t alter the current line for now. EU Sanctions on Iran: Ukraine and eight other countries—including Liechtenstein—aligned with an EU decision to extend sanctions on Iran tied to military support for Russia and regional armed groups. Cybersecurity: After a major hacking attack on Liechtenstein’s registry of foundations and trusts, Prime Minister Brigitte Haas said the government is still assessing scenarios and won’t pay a ransom. Diplomatic Spotlight: The UAE sent congratulations to Prince Hans-Adam II on Liechtenstein’s National Day. International Media Buzz: U.S. Ambassador Callista Gingrich posted National Day messages that sparked online jokes about her “robot-like” delivery.

Royal Succession Reform: Liechtenstein’s Princely House has ended male preference in the line of succession, switching from male primogeniture to absolute primogeniture so the first-born child can inherit the throne regardless of gender. The change was approved by the required two-thirds vote among eligible family members and applies to future descendants of Hereditary Prince Alois and Hereditary Princess Sophie, with the current top of the line unchanged for now. EU Sanctions on Iran: Liechtenstein joined a wider group aligning with the EU’s decision to extend sanctions against Iran, alongside Ukraine and eight other European countries, citing Tehran’s military support for Russia and its role in regional armed groups and threats to navigation. Cyber Security: Liechtenstein officials say they still don’t know who carried out a major hacking attack on the country’s foundation and trust registry, and Prime Minister Brigitte Haas says paying a ransom “wouldn’t be an option.” Vatican Finance: Pope Leo XIV appointed Princess Gisela Bergmann of Liechtenstein to the Vatican’s Council for the Economy, bringing private-wealth and asset-management experience to the Holy See’s financial oversight.

Royal Succession Reform: Liechtenstein marked its National Day by ending male-heir priority and switching to absolute primogeniture, so the first-born child can inherit the throne regardless of sex; the change was approved by a two-thirds vote within the Princely House and won’t be applied retroactively to leapfrog siblings in the current line. Cybersecurity: After a major hacking attack exposed data on thousands of Liechtenstein foundations and trusts, Prime Minister Brigitte Haas said the government is still assessing scenarios and that paying a ransom “wouldn’t be an option.” International Finance: Pope Leo XIV appointed 36-year-old Liechtenstein princess Gisela Bergmann to the Vatican’s Council for the Economy, bringing private-wealth and asset-management experience to Vatican financial oversight. EU Sanctions Alignment: Liechtenstein joined other European states in aligning with an EU decision adding six people to Iran-related restrictive measures. Global Trade Spillover: The U.S. announced new drone import tariffs, including a 15% rate for Liechtenstein, tying the move to national security and supply-chain concerns.

Liechtenstein in International Spotlight: The UAE sent National Day congratulations to Prince Hans-Adam II and Prime Minister Brigitte Haas, with Vice Presidents also messaging the principality. Cybersecurity Watch: Liechtenstein says it will not pay a ransom after a major hacking attack hit its registry of foundations and trusts, while officials still assess scenarios and legal constraints. Vatican-Finance Link: Pope Leo XIV appointed 36-year-old Princess Gisela Bergmann of Liechtenstein to the Vatican’s Council for the Economy, bringing private-wealth management experience to Vatican budget oversight. EU Sanctions Alignment: Liechtenstein joined nine European countries in aligning with an EU decision adding six people to Iran-related restrictive measures lists. US–Drone Trade Shock (Liechtenstein Included): The White House announced new US tariffs on imported drones: up to 100% for “sensitive” systems, 25% for smaller drones, and a capped 15% rate for qualifying imports from the EU, Japan, Liechtenstein, Switzerland and others—conditional on where key technology originates.

US–China Trade Clash: China rejected US claims of “tariff evasion” via transshipment, saying rerouting through third countries is normal trade practice unless rules of origin are falsely declared. Drone Tariffs Hit Liechtenstein Too: President Donald Trump signed a Section 232 order imposing new US tariffs on imported drones and parts, with the steepest 100% duty for drones over 25kg and for thermal-imaging systems (plus docking stations and key components), a 25% rate for smaller drones, and a lower 15% cap for qualifying imports from the EU, Japan, Liechtenstein, South Korea and Switzerland (UK 10%), with most duties starting Sept. 3 and some components later. Local Impact Angle: The White House says the goal is national security and faster US drone production, but the move is expected to raise costs for buyers and complicate supply chains. US Navy Strain in the Mideast: Separately, reports say USS Abraham Lincoln’s long deployment is linked to crew fatigue complaints, including moldy showers and poor meals, as the Navy weighs relief plans.