The derivatives boutique is teaming up with Glarner cantonal bank on a new pension product as well as new distribution platform for it.
Zurich-based Leonteq and the local-government backed lender of Glarus will partner on a private pension product, the two said in statements on Monday. They plan to set up a platform to digitally market new pension solution,s the first of which is to launch by year-end.
Leonteq's insurance and wealth planning arm developed a digital banking platform, Signa, which is designed to host savings products such as private pensions, automated and scalable. The Glarner cantonal bank product combines a guaranteed payout with upside potential, as opposed to continual interest payments that are more typical of these products.
The two will be equal partners in the third-party company to be set up for the venture, with Leonteq as the service and technology partner and Glarner contributing banking and digitization expertise.
