Leonteq has underpinned its existing strategic cooperation with Raiffeisen Switzerland with an agreement over ten years.
According to Leonteq, within the existing cooperation between Leonteq and Notenstein La Roche Private Bank and the envisaged partnership with Raiffeisen Switzerland for the issuance of structured investment products, which was preannounced in 2015, the parties have now decided to further strengthen their collaboration with a ten-year agreement. Over this period, Leonteq will act as the core provider of technology and services for the origination and distribution of structured investment products.
Leonteq will provide the requested services to Raiffeisen Switzerland and Notenstein La Roche Private Bank against a platform fee, while maintaining its open platform approach. The first Raiffeisen Switzerland structured investment products are expected to be available in the course of 2016.
The Swiss firm announced last week in its annual result that is seeking to increase the scalability of its platform by adding several partners including Raiffeisen Switzerland as well as JP Morgan, Malayan Banking (Maybank), Swiss Life and Swiss Mobiliar.
Despite the collapse of the cooperation with DBS and the Land partners in the Asia-Pacific region, the Swiss firm reported strong progress in the expansion of its platform partner network for the origination and distribution of structured products in 2015, with 904 counterparties trading actively on its platform in 2015, compared to 802 in 2014 (up 13%).
Leonteq has now started cooperation with a number of partners including Deutsche Bank and Bank of Montreal (BMO), which has made its investment products available to the bank's platform for distribution in Switzerland and other selected countries in Europe and Asia.
Raiffeisen went through a reorganisation in 2015 that saw Notenstein's structured products trading and distribution (sellside) integrated in Raiffeisen's Central Bank. As Notenstein Private Bank refocused on core businesses, its IT division and some units of its services division were integrated into Raiffeisen Switzerland and Arizon Sourcing, a joint venture with Avaloq, which was already responsible for operations of Raiffeisen Switzerland.
Leonteq declined to comment on this development. Raiffeisen did not return calls requesting comment by press time.
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