Following the Government's release of their new COVID-19 Recovery Strategy, we have carefully reviewed the details. As we have reached phase three of the Government's Recovery Strategy, taking into consideration Government guidance and the progress made on implementing measures to make our workplaces COVID-19 secure, the London and Bristol offices have re-opened partially as of the 6th July to accommodate a phased return to the office. We continue to adhere to the Government's guidance, and encourage and support all of our people who are able to work from home. Additionally, our offices remain closed for client meetings until further notice.
We have implemented measures to ensure our offices are safe for our people returning to work and we are constantly reviewing and maintaining these measures to ensure the workplace is safe.
We would like to reassure you that, as part of the LGT Group, we are well protected in the event of negative economic developments. LGT Bank's liquidity is well above the legally required minimum liquidity ratios, due to the bank's solid refinancing and asset base. With a core capital ratio (Tier 1) of 19.9 percent, LGT is very well capitalised and has high liquidity. LGT Bank Ltd. is one of the few private banks that has had its creditworthiness checked regularly for many years by both Moody's and Standard & Poor's, consistently achieving very high ratings (Moody's: Aa2 ; Standard & Poors: A+). The creditworthiness of LGT Bank's parent company, LGT Group Foundation, is an important factor for the rating. The first-class credit ratings are attributable to LGT's strong balance sheet, conservative lending strategy and earnings power, the latter based on over CHF 200bn of Assets under Management, as at March 2020.
Fraudsters are looking to take advantage of the coronavirus and we therefore ask you to remain vigilant and to please bear with us should we request additional confirmation of requests. When working from home, continue to be on your guard against those purporting to work for internet providers asking to gain access to your computer or trying to convince you to make irrational payments. These fraud attempts can seem very plausible so we ask you to take care.
We continue to monitor the coronavirus situation closely, and will keep this page updated as appropriate. Should you have any questions, please do not hesitate to contact your LGT Vestra US contact. Contact details can be found here: https://www.lgtvestra-us.com/en/about-us/lgt-vestra-us/lgt-vestra-us-people/