Leonteq AG / Key word(s): Expansion
PRESS RELEASE | LEONTEQ OPENS MILAN OFFICE
Zurich, 12 October 2020
Leonteq AG (SIX: LEON) expands its presence in Europe with the opening of an office in Milan to more closely serve the Italian market.
The move to Milan is part of Leonteq's planned expansion to increase its global footprint, and a natural next step to support the business growth and meet the needs of its client base as its activity in Italy continues to strengthen. Over the years, Italy has become a promising market for structured products with over 1,000 Leonteq certificates listed on EuroTLX and SeDeX. In particular, Leonteq has offered certificates on the EuroTLX exchange since 2016 and issued its first product on SeDeX just a year ago in October 2019. The continued demand for structured products in Italy also led to the first launch on EuroTLX of products issued by EFG International via Leonteq's technology platform earlier this year.
Leonteq's onshore business in Milan, which commenced at the beginning of October 2020, is managed by Marco Occhetti, Managing Director and Head South Europe at Leonteq. Marco joined Leonteq in 2015 and has built up the offering for the Italian market over the past years. Before joining Leonteq, Marco Occhetti led the private banking investment solutions business in Ticino and Southern Europe at Commerzbank for six years and was Vice President of equity derivatives at Deutsche Bank from 2007 to 2009, where he serviced institutional clients. Prior to this, he worked at Morgan Stanley in the institutional equity derivatives division and at Commerzbank.
Lukas Ruflin, CEO of Leonteq, stated: "We are delighted to open our office in Italy. This expansion underscores our commitment to the Italian market as well as the importance of this region for Leonteq."
"We are excited to finally have a physical presence in Italy and work more closely with our clients and partners to expand our structured product offering and services", added Marco Occhetti.
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 ad hoc announcement