Zurich-based EFG Financial Products has announced the change of its name to Leonteq and that from today, the firm will trade and issue products under the new branding.

The new name has been rolled out following its entry in the commercial register and the rebranding of all significant areas, with remaining rebranding activities to be completed by the end of the year. The firm has changed its ticker symbol at the SIX Swiss Exchange to "LEON" as it has also launched a new website (leonteq.com).

The firm said that the name change is part of its new white-labelling core strategy and its positioning as an independent platform for investment products, and that the rebranding of the firm was decided in April at its annual general meeting.

"With the rebranding we underline our independence as an outsourcing partner for investement products services in line with our core white-labelling strategy. In addition we continue to offer investment products under our own name," Jan Schoch, chief executive of EFG Financial Products told SRP.

The news follows several changes in the company. In October 2012, EFG announced its initial public offering (IPO) on the SIX Swiss Exchange. Soon after the IPO, EFG International reduced its stake in EFG Financial Products to just over 20%; and last March the firm sold a 20.25% stake to Notenstein Private Bank in white-labelling move.

Leonteq is marketing its first set of structures under the new brand which includes five callable multi-barrier reverse convertibles linked to equity stocks such as Carrefour, Unilever, L'Oreal, Nestle, Novartis, Roche, BMW, Daimler and Volkswagen; as well as one linked to a basket of commodities featuring gold, silver and palladium.

Leonteq is also marketing five collateralised (COSI) of which three are callable barrier reverse convertibles linked to single equity stocks and one linked to a basket of indices comprising the domestic SMI, the S&P500 and the Eurostoxx50, and two are multi callable reverse convertibles.

EFG Financial Products Holding AG subsidiaries including EFG Financial Products AG, EFG Financial Products (Hong Kong) Ltd, EFG Financial Products (Europe) GmbH and EFG Financial Products (Singapore) Pte Ltd have now been rebranded and will operate under Leonteq Securities AG, Leonteq Securities (Hong Kong) Ltd, Leonteq Securities (Europe) GmbH and Leonteq Securities (Singapore) Pte Ltd.