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EQS Group-News: Leonteq AG / Key word(s): Expansion
PRESS RELEASE | LEONTEQ OPENS LISBON OFFICE
Zurich, 01 October 2021
Leonteq AG (SIX: LEON) establishes an office in Lisbon as part of its initiative to support business growth whilst protecting its profitability over the long-term.
The establishment of Leonteq's office in Lisbon is part of its service centre initiative launched in 2020 to support and facilitate future business growth in a more cost-efficient way as the company continues to expand and evolve. Lisbon, Portugal was selected as Leonteq's newest location due to several factors, including talent and sourcing opportunities, political stability, quality of life, time zone and cost considerations, and the company's onsite presence was established through a phased approach. Phase 1 of the operations consisted of establishing a serviced office set-up, which was completed in the fourth quarter of 2020, and included hiring a small number of external IT development specialists, as well as other personnel in shared services functions. Phase 2 was launched in the first quarter of 2021 to establish a Leonteq office with up to 100 designated roles along the entire value chain.
Leonteq has now received regulatory approval to open its Portugal branch and will commence operations on 1 October 2021. Leonteq Securities (Europe) GmbH - Sucursal em Portugal is included in the CMVM's list of financial intermediaries authorised to operate in Portugal and will transition its current 50 external specialists to permanent Leonteq employees at the beginning of October. The Portugal branch is co-managed by Manfred Schwientek, General Manager Leonteq (Europe) GmbH, and Fabian Muff, Head of Operational Management and Controlling.
Lukas Ruflin, CEO of Leonteq, stated: "We are delighted to open our office in Portugal as we are expanding mindfully and growing our pool of experts in Lisbon. This extension comes as a natural next step within our growth strategy and enables us to continue investing in key initiatives while protecting our profitability over the long-term."
This press release may contain specific forward-looking statements, e.g. statements including terms like "believe", "assume", "expect", "target" "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the Company or any of its affiliates or subsidiaries and those explicitly or implicitly presumed in these statements. These factors include, but are not limited to: (1) general market, macroeconomic, governmental and regulatory trends, (2) movements in securities markets, exchange rates and interest rates and (3) other risks and uncertainties inherent in our business. In addition, currently, it is very difficult to provide a meaningful prediction on how the governmental actions in response to the ongoing outbreak of a novel coronavirus disease (COVID-19) and other COVID-19 related factors will affect Leonteq's operations and how long such measures will remain in place. The COVID-19 outbreak has caused, and may continue to cause, uncertainty, economic instability and a significant decrease of total economic output in the affected areas and globally. The impact of the COVID-19 outbreak on the general economic environment in the markets in which Leonteq operates remain uncertain and could be significant. Against the background of these uncertainties, you should not rely on forward-looking statements. Neither the Company nor any of its affiliates or subsidiaries or their respective bodies, executives, employees and advisers assume any responsibility to prepare or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this press release or to adapt them to any change in events, conditions or circumstances, except as required by applicable law or regulation.
End of Media Release