The derivatives boutique's stand-in boss is marshaling the troops after the ouster of its co-founder and Chief Executive. He also tipped major shareholder Raiffeisen's hand, finews.com can report.
Zurich-based Leonteq has rarely been out of the headlines in recent months: The derivatives firm's calamitous year culminated in co-founder and CEO Jan Schoch's acrimonious exit last month.
Schoch dumped his stock shortly after, sparking a shuffle among notable shareholders, which include Swiss cooperative bank Raiffeisen. Leonteq's temporary leadership moved to calm concerns over the turmoil, in a memorandum seen by finews.com.
Asia Visit
Acting CEO Marco Amato (pictured below) told employees that he and newly-installed chairman Christopher Chambers will visit Asia next week, as well as address employee concerns directly in coming weeks.
Meanwhile, British-Swiss banker Chambers told Swiss newspaper «Finanz und Wirtschaft» (in German, behind paywall) that Leonteq needs strong strategic leadership, stability, and hard work.
Amato, who is acting as CEO in addition to his day job as finance chief, also revealed what Raiffeisen's plans are for its 26.5 percent stake in the derivatives firm. Raiffeisen boss Patrick Gisel (pictured below) said Leonteq forms a key part of the bank's strategy.
Confusion over Raiffeisen's plans have reigned since both bank representatives – Gisel as well as his predecessor, Pierin Vincenz – left Leonteq's board. The simultanous exit had been interpreted by some as a sign that Raiffeisen is about to dump its shareholder.
Instead, Raiffeisen has renewed its vows with Leonteq, Amato said. The bank would welcome another heavyweight shareholder.
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