Leonteq to create a new dedicated White-labeling & Platform Development division
Leonteq AG (SIX: LEON), the Zurich-based integrated investment service provider, today announced that it will create a new White-labeling & Platform Development division as of 1 January 2014. The new division will be dedicated to advancing Leonteq’s core white-labeling strategy, while at the same time driving developments of its market-leading technology platform. Founding Partner Michael Hartweg who is currently Head of the Structured Solutions division will take on the lead of the new White-labeling & Platform Development division. Structured Solutions will in future be headed by Nilesh Jethwa who joined Leonteq in 2008 and is currently Head of Trading.
Key tasks of the new White Labeling & Platform Development division will include relationship management with and further development of existing white-labeling partnerships in the banking area (mainly EFG International, Notenstein Private Bank) as well as the strengthening of the white-labeling strategy. White-labeling partnerships in the life and pensions area (such as Helvetia) will continue to be managed by the Asset Management & Pension Solutions division.
The new White Labeling & Platform Development division will also drive developments of Leonteq’s technology platform, including the design of new features and the further build-out of modules such as the Constructor which allows professional investors to compose their own investment products.
The new division will be led by Founding Partner Michael Hartweg, Deputy CEO and currently Head of Structured Solutions of Leonteq. It will encompass a headcount of around 20 including the Structuring and Quantitative Analytics teams which were previously reporting to Structured Solutions.
The Structured Solutions division will in future concentrate on the Trading and Sales functions with around 70 staff and will be headed by Nilesh Jethwa. He joined Leonteq in May 2008 and is currently Head of Trading. Nilesh Jethwa has an MA (Hons) in Mathematics from Cambridge University and previously worked in the structured products business at Lehman Brothers since 2000. In his new function he will report to the CEO Jan Schoch.
Jan Schoch, CEO of Leonteq: “Since we delivered the proof of concept of our white-labeling strategy with Notenstein Private Bank earlier this year, we have further increased our focus on this area as well as on our technology platform which forms the basis of our white-labeling efforts. The creation of a new dedicated White-labeling & Platform Development division is a logical next step and will help advance our core strategy going forward.”
Leonteq’s new organizational structure will become effective as of 1 January 2014 and will not lead to a notable increase in the company’s headcount.