The Swiss derivatives boutique has moved on by replacing embattled Swiss banker Pierin Vincenz. What are the new chairman's priorities?
Leonteq's shareholders voted overwhelmingly: 99 percent supported Christopher Chambers as the firm's new chairman.
The ex-Credit Suisse banker replaces Pierin Vincenz, a respected Swiss banker whose legacy is under fire amid a fitness and probity investigation by Switzerland's financial regulator.
Chambers, who formerly led British hedge fund firm Man Group, ascends to the role just as Leonteq shows signs of turning the corner. His arrival comes shortly after co-founder Jan Schoch severed ties with Leonteq, in acrimony.
New CEO, ASAP
Replacing Schoch is Chamber's most urgent priority, the 56-year-old incoming chairman said. Schoch's deputy, finance chief Marco Amato, has led Leonteq temporarily since last month, when Schoch threw in the towel. He has since dumped all his shares and a consulting role at the firm he co-founded ten years ago evaporated.
Chambers, who is British and Swiss, was on the board of consumer finance firm Cembra Money Bank until this year, and is also on the board of Berenberg's Swiss bank and property firm SPS.
Leonteq's shareholders also voted Paulo Bruegger and Thomas Meier to the firm's board. Bruegger represents Swiss cooperative bank Raiffeisen, which owns 26.5 percent of Leonteq. Meier is Julius Baer's former head in Asia.
