Board Member functions

"An independent board of trustees or a corresponding protector ensures checks and balances in a foundation or trust."
Stephan Ochsner
 

Due to our management experience and our expertise in the areas of governance, risk and compliance, we are the ideal partner to take on mandates as a board of directors, foundation board or protector. We distinguish between board functions at financial institutions or mandates in client entities such as foundations or trusts. 

In selected cases, Stephan Ochsner is prepared to assume a function as an independent board member of a financial institution. 

However, the independence of the executive bodies is also playing an increasingly important role in client entities. It may well be in the client's interest to appoint an independent member of the foundation board or a corresponding protector in addition to an employee of a trust office.

This appears to be a confidence-building measure, particularly in the case of a foundation or trust with discretionary beneficiaries, because, given the legal situation in Liechtenstein, almost every foundation or trust can be regarded as a legal entity with discretionary beneficiary rights. Since discretionary beneficiaries have fewer rights vis-à-vis the foundation board or trustee than fixed beneficiaries, this circumstance should not be neglected.

A protector is an independent person to whom certain competences can be attributed, e.g. in by-laws, such as 

• Right of veto regarding the determination of beneficiaries
• Dismissal and reappointment of trustees
• Dismissal and reappointment of asset managers
• Power to inspect all documents of the foundation or trust
• Power to transfer the foundation or trust to another jurisdiction

Due to his experience as CEO of a trust company and in the supervision of fiduciaries, Stephan Ochsner is predestined to exercise the function of an independent member of the foundation board or a corresponding protector. 

Our services therefore include in particular

• Acceptance of mandates as a member of the board of directors
• Acceptance of mandates as a member of the foundation board
• Acceptance of mandates as protector