ZURICH, Oct 6 (Reuters) - Leonteq on Friday sidelined co-founder and Chief Executive Jan Schoch, removing him from the executive committee as the Swiss derivatives boutique revamps its leadership.
Schoch, among those who started the company in 2007, will be replaced by current Deputy Chief Executive and Chief Financial Officer Marco Amato on an interim basis as the company seeks a new head. Amato was named deputy CEO in September.
Schoch will trim his duties to a role as a senior adviser on growth initiatives.
Christopher Chambers, a Swiss-British dual national, was nominated as the new chairman, while Paulo Bruegger and Thomas Meier were proposed as new board members, the company said.
Leadership at Leonteq has been in flux after 2016 net income fell by three quarters amid what the company called difficult market conditions and higher investments. The company said on Friday it was profitable in the third quarter.
“Going forward, I will exclusively concentrate on Leonteq’s strategic growth initiatives,” Schoch said in a statement. “We believe this is in the company’s best interests.” (Reporting by John Miller; Editing by Michael Shields)