The derivatives boutique couldn't entirely offset a pandemic crash with healthier business later in the year. It plans to sharply lift shareholder payouts despite a drop in profits.
The Zurich-based company's profit dropped to 39.9 million Swiss francs ($44.8 million) from 62.7 million francs year-ago, it said in a statement on Thursday. In the second half of the year, its business snapped back from a first-half marred by a trading loss during the pandemic.
The company said it will lift its dividend by half, to 0.75 francs per share. «On the back of an improved profitability in the second half of 2020 and a record fourth quarter, we are confidently looking ahead to seizing new opportunities in the current environment,» CEO Lukas Ruflin said.
The company also said top executive Jochen Kuehn will step down from his role as head of insurance and wealth planning solutions with immediate effect. Leonteq, which didn't detail a reason for the move, said Rueflin will take over the unit from Kuehn, a former McKinsey partner who joined the company in 2017.
