Leonteq announces new partnership with DBS
Leonteq AG (SIX: LEON), the Zurich-based independent technology and service provider for investment solutions, today announced a new partnership with DBS in the origination and distribution of equity derivatives structured products. DBS is a leading financial services group in Asia with SGD 417 billion (approx. CHF 310 billion) in total assets.
In February 2014, Leonteq had announced that it had signed a letter of intent with a larger institution in Asia. Today, Leonteq confirmed the launch of the new partnership with DBS, the largest Southeast Asian financial services group in terms of assets.
The issuance of products under the new partnership has already started. The implementation of the full cooperation set-up is expected to last 12-18 months at least.
Jan Schoch, CEO of Leonteq: “We are delighted to have gained DBS as a new partner in the origination and distribution of equity derivatives structured products. This cooperation will offer our clients unique exposure to investment products issued and guaranteed by one of the best-rated banks in Asia. At the same time, we are offering DBS access to a broad, global investment community, with a particular focus on Asia, Europe and Switzerland. We are very much looking forward to working with this well-established institution going forward.”
DBS is one of the largest financial services groups in Asia with over 250 branches across 17 markets, SGD 417 billion (approx. CHF 310 billion) in total assets and a tier 1 ratio of 13.5% as of 30 June 2014. Headquartered and listed in Singapore, DBS is a market leader in Singapore with over four million customers and a growing presence in the three key Asian axes of growth, namely Greater China, Southeast Asia and South Asia. The bank's strong capital position, and its "AA-" and "Aa1" credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance's "Safest Bank in Asia" accolade for six consecutive years, from 2009 to 2014. DBS employs around 20,000 staff. For more information, see www.dbs.com. Singapore is one of the few countries worldwide that is rated "AAA" (as per Standard & Poor’s, September 2014).