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What's New In Investments, Funds? – Leonteq, Raiffeisen
The latest news on investment and fund products, and related new offerings for the wealth management sector.
Leonteq
Swiss structured products business Leonteq and banking group
Raiffeisen Switzerland Cooperative are extending a business pact
that will run to 2030, adding four years to its previous due
date.
The firms have also ended an existing credit facility to take
into account developments within the two companies to date, they
said in a statement yesterday.
The cooperation agreement between the organisations over
structured products dates back to 2013 and was already extended
by ten years in 2016. Today, Raiffeisen is one of Leonteq's
largest white-labelling partners in terms of the volume of
products outstanding.
As part of the changes, Raiffeisen is expanding its pension and
investment activities. It plans to begin issuing, hedging and
distributing some of its structured products itself via a new
Raiffeisen platform in the second half of 2022. Leonteq will
ensure that the new Raiffeisen platform is connected to Leonteq's
existing service and technology platform. The extension of their
cooperation until March 2030 is subject to the successful
implementation of the technological connection by the first
quarter of 2023, the statement said.
Following the changes, Leonteq expects its annual net fee income
to decrease by around 1 per cent. At the same time, Leonteq will
be able to increase the proportion of its balance sheet-light
business, in line with its strategic ambition, it said.