Leonteq AG (SIX: LEON) announced today that it has entered into a broad cooperation agreement with Basler Kantonalbank in the area of structured investment products.
At the end of April, Leonteq and Basler Kantonalbank agreed to work together in the area of structured investment products. As part of this cooperation, Basler Kantonalbank will act as the issuer of structured investment products, while Leonteq will provide services along the value chain.
Lukas Ruflin, Chief Executive Officer of Leonteq, stated: "We are pleased to have gained Basler Kantonalbank as a new partner and to be able to offer our clients structured investment products from one of the best-rated issuers in Switzerland."
The structured investment products issued by Basler Kantonalbank will be distributed by Basler Kantonalbank and Leonteq to their respective clients in Switzerland. The first product will already be available for subscription from next Monday. The offering of Basler Kantonalbank products will be gradually expanded on Leonteq's multi-issuer platform by the end of 2020.
Luca Pertoldi, Deputy CEO and Head of Distribution Commercial Clients at Basler Kantonalbank, commented: "The digital transformation of our business model is a cornerstone of our Strategy 2018 to 2021. With its state-of-the-art tools and innovative solutions, Leonteq will help us to achieve our ambitious goals and expand our structured product capabilities."
Basler Kantonalbank is one of the largest Swiss cantonal banks, with total assets of CHF 27.3 billion and a total capital ratio of 20.0% as of end 2019. It has an AA+ issuer rating from Standard & Poor's and a state guarantee from the Canton of Basel-Stadt.
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LEONTEQ Leonteq AG is a Swiss company active in the finance and technology sector with a focus on the structured products segment. Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes. Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions. Leonteq further enables life insurance companies to produce capital-efficient, unit-linked pension products with guarantees. The company has offices and subsidiaries in 10 countries, through which it serves over 50 markets. Leonteq is listed on the SIX Swiss Exchange. www.leonteq.com
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