LEONTEQ ANNOUNCES BOARD NOMINATIONS AND CEO CHANGE

Leonteq AG (SIX: LEON), the independent technology and service provider for investment solutions, today announced the following nominations and changes to its leadership structure:
  • Christopher M. Chambers nominated as new Chairman, and Paulo Brügger and Thomas R. Meier nominated as new members of the Board of Directors, proposed for election at an EGM to be held on 22 November 2017
  • Marco Amato, Deputy CEO and CFO, appointed as Leonteq’s CEO on an ad interim basis; he succeeds Jan Schoch, who will take over the role as Senior Advisor Strategic Growth Initiatives and will no longer be a member of the Executive Committee; the search for a new permanent CEO has been initiated 
  • Leonteq has achieved a profitable third quarter and is on a solid path both operationally and financially

On 5 October 2017, the Board of Directors of Leonteq decided to propose the following Board nominations, which shareholders will vote on at an Extraordinary General Meeting to be held on 22 November 2017:

  • Christopher M. Chambers (1961), proposed as the new Chairman and as an independent member of the Board of Directors: Mr Chambers, a Swiss and British national, began his career in investment banking in 1990, before becoming CEO of Man Investments and a main Board member of Man Group in 2002. He is currently a Senior Advisor to Lone Star Europe, and a member of the Boards of Swiss Prime Site, Oxford Science Innovation, Pendragon, Lonrho and Berenberg Bank (Switzerland). Previous Board memberships include Cembra Money Bank (Vice-Chairman), Evolution Group (member) and Jelmoli Holding (Chairman). Mr Chambers’ nomination as Chairman of Leonteq follows the resignation of Pierin Vincenz as Chairman and a member of its Board as announced in July 2017.
  • Paulo Brügger (1966), proposed as a new member of the Board of Directors: Mr Brügger, a Swiss national, is Head of the Central Bank department and a member of the Executive Board of Raiffeisen Switzerland, which he joined in 2003. Between 1995 and 2002, Paulo Brügger held various senior positions at UBS. He began his career at Swiss Bank Corporation and then Bank Julius Baer. He is a member of the Board of Directors of responsAbility Participations and holds a degree in Economics and Business Administration from the Kaderschule Zurich. Upon election, Mr Brügger will replace Patrik Gisel, who announced his resignation from Leonteq’s Board in July 2017.
  • Thomas R. Meier (1962), proposed as a new independent member of the Board of Directors: Mr Meier, a Swiss national, brings with him profound knowhow in the areas of financial services and business development in Asia. He served as CEO Asia and a member of the Executive Board of Bank Julius Baer from 2005 to 2015, as Head of Private Wealth Management and a member of the Management Board of Deutsche Bank (Luxembourg) and, prior to that, as CEO North Asia at Credit Suisse. After his return to Switzerland, he became Head of Corporate Sustainability at Bank Julius Baer and he currently serves as Chairman of the Julius Baer Foundation. Mr Meier holds a doctorate in Law from the University of Zurich and he completed the Advanced Management Program at the University of Pennsylvania, USA.

Vince Chandler, a member of the Board of Directors and Chairman of the Nomination and Remuneration Committee of Leonteq: “With today’s announcement of the nomination of these experienced individuals for election as Chairman and as members of the Board of Directors, we are underlining Leonteq’s commitment to continuously strengthening the independence and skills of our Board.”

The Board of Directors intends to propose to its shareholders a further independent member of the Board of Directors for election at the 2018 Annual General Meeting at the latest.

The invitation to the Extraordinary General Meeting is planned to be sent to shareholders and published on Leonteq’s website on 31 October 2017.

MARCO AMATO APPOINTED CEO AD INTERIM

On 5 October 2017, the Board of Directors also appointed Marco Amato, Deputy CEO and CFO, as Leonteq’s new CEO on an ad interim basis. He succeeds Jan Schoch, founding partner and CEO of Leonteq, who will take over the newly created position as Senior Advisor Strategic Growth Initiatives. In his new role, Jan Schoch will no longer be a member of the Executive Committee. He will actively support management in the development of the firm and use his international network to drive forward strategic partnerships.

Jan Schoch: “Going forward, I will exclusively concentrate on Leonteq’s strategic growth initiatives. We believe this is in the company’s best interests. I look forward to continuing to support Leonteq with a focus on future-oriented steps.”
Lukas Ruflin, founding partner and Vice-Chairman of the Board of Directors: “We are pleased that we can continue to count on Jan’s thought leadership going forward. With our newly strengthened Board, excellent management team and robust organisation, we are well positioned for the future. We wish to thank Marco Amato for taking on the role of interim CEO in addition to his function as CFO.”
These changes are effective immediately. The Nomination and Remuneration Committee has initiated the search for a new permanent CEO, which will be carried out in close collaboration with the designated Chairman.
Having achieved a profitable third quarter, Leonteq is on a solid path both operationally and financially and it is continuing to focus on its key priorities for 2017. Leonteq also reconfirms its cost target of CHF 192 million for the full-year 2017 (including one-off costs of up to CHF 15 million).

Pierin Vincenz, Chairman of Leonteq: “Ten years since its inception and development from a startup to an established listed company, Leonteq will now enter the next phase under a more diverse and independent leadership. With its strong team and solid business model, Leonteq has all the ingredients to deliver further sustainable growth.”