Leonteq AG (SIX: LEON), an independent expert in structured investment products and long‑term savings solutions, announced today the nomination of Dominik Schärer for election to its Board of Directors at an Extraordinary General Meeting to be held by the end of September 2019. In addition, Leonteq was informed that Raiffeisen intends to fully retain its 29% stake in Leonteq as anchor shareholder.
Following a proposal by Leonteq’s largest shareholder, Raiffeisen Switzerland, the Board of Directors of Leonteq has nominated Dominik Schärer for election as a new member of the Board of Directors at an Extraordinary General Meeting to be held by the end of September 2019 at the latest. Dominik Schärer (1965), a Swiss national, is the founder and member of the Board of Directors of PK Advisory, Basel, since 2015 and a partner and member of the Board of Directors of JBV Vermögensverwaltung, Olten, since 2007. Dominik Schärer began his career as an equity trader at Bank Sarasin in 1987. In 1992, he joined Merrill Lynch Capital Markets, Zurich, where he spent 15 years in various roles, including as Head of Derivatives Trading, Head of Equities and Derivatives, and as Derivative Sales to institutional clients, pension funds and insurance companies. He was a member of the Executive Committee of Merrill Lynch Capital Markets, Zurich, from 1996 to 2001, and CEO from 2001 to 2007. Dominik Schärer also served as a member of the Board of Directors of Merrill Lynch Capital Markets, Zurich, from 2007 to 2011 and as its Chairman from 2011 to 2016.
Richard A. Laxer, Chairman of the Nomination and Remuneration Committee of Leonteq, stated: “We are pleased to propose Dominik Schärer, a financial industry expert with a strong background in equities and derivatives and a proven track record of leadership, for election as a member of our Board of Directors.”
In addition, Leonteq was informed by Raiffeisen Switzerland that it has decided to fully retain its 29% stake in Leonteq as anchor shareholder and thus not to pursue its previously announced plan to reduce its participation. This decision underscores the importance of the cooperation for Raiffeisen Switzerland as one of Leonteq’s most important issuance partners for structured investment products.
Christopher M. Chambers, Chairman of Leonteq, stated: “Raiffeisen’s decision to retain its current shareholding in Leonteq confirms its commitment to and the strategic importance of the cooperation between our two companies, and we look forward to further building on this relationship in the years to come.”