News and Media - 2014

Leonteq publishes the invitation to its 2014 annual general meeting

[ investor-relations ]

The Leonteq board of directors will in particular put forward to the ordinary shareholders’ meeting a series of amendments to the articles of association with respect to the implementation of the “Ordinance against excessive compensation in stock exchange listed companies” which was enacted due to the so-called “Minder” initiative. With regard to the approval for remuneration of the board of directors and the executive board, Leonteq proposes a prospective approach; that is the forward-looking approval of the maximum total remuneration for the executive board for the next business year, or, for the board of directors, until the next ordinary general meeting. For the year 2014, Leonteq will conduct consultative votes regarding the maximum remuneration for the board of directors and the executive board.

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Leonteq reports full-year 2013 results

[ annual-report | investor-relations ]

Leonteq delivered strong results for the financial year 2013, reflecting increased client activity, a positive environment for yield enhancement products, and encouraging business developments especially in the Asia and the EU regions. The firm recorded total operating income of CHF 158.4 million on turnover of CHF 15.7 billion in 2013, representing an increase of 24% and 30% respectively compared to 2012. Cost-income ratio improved by 10pp to 73%. Group net profit rose 89% to CHF 38.8 million. Leonteq continued to invest into its proprietary IT and investment service platform and also made further progress in the implementation of its core white-labeling strategy, as demonstrated by the increased contribution of its white-labeling partners to the firm’s total operating income (up 20pp to 44%), and the reduction in costs per issued product (down 15%). The board of directors will propose a shareholder distribution of CHF 2 (2012: CHF 1) per share at its annual general meeting. Leonteq is optimistic for the further development of its business but remains mindful of potential challenges given the fragile economic and regulatory environment. In the pursuit of its white-labeling strategy, the company has signed a letter of intent with a larger institution in Asia. Furthermore, Leonteq has started a white-labeling partnership with Lugano-based Cornèr Bank with a potential of CHF 150 million additional outstanding volume per year.

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