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That’s probably something we underestimated in the beginning, when we had the ambition to onboard every partner very quickly.

Can you give me an example?

When we worked with Notenstein and wanted to switch to Raiffeisen, we realized the parent company had completely different requirements. In fact, it was a comparable to the onboarding of a new partner. We’re getting better at the onboarding process, but it’s important not to underestimate the effort it takes.

In Asia, where will you be spending money to expand?

This year, getting a toehold in Japan is a huge priority. We have a team of five people working cross-border from Hong Kong and one person already working on compliance in Japan itself.

«We’re definitely now keen to invest back in the Asian business»

We’ve already incorporated Leonteq Securities (Japan) Preparation Limited and found office space in Tokyo. We’re now working on getting our license.

How does your rather costly Asian expansion square with cuts in Switzerland and in Europe?

The fruits of our cost-cutting program in 2017 are beginning to show. We’re definitely now keen to invest back in the Asian business.

«Asia is our fastest growing region»

We don’t intend to make any more significant cuts in Hong Kong and Singapore. Asia is our fastest growing region with revenues up 33 percent year-on-year in the first half of 2017.

Unlike your predecessor, you come from the world of finance and accounting. Have you brought much-needed discipline into Leonteq?

When I joined Leonteq, I knew it was a nine-year-old company which had grown very quickly, and some processes and controls hadn’t kept pace. We had to bring some structure into the company and better control the pace at which we were growing the business.

You had to throttle growth then?

It’s not that we don’t want to grow – we do. But we want to do it with the right means, in the right regions, with the right people. We needed to stop and take a look at where we want to be in four or five years, not in 12 months.

Marco Amato has been standing in as Chief Executive of Leonteq since October, when co-founder and long-standing CEO Jan Schoch departed. The 37-year-old Swiss and Italian banker joined the fintech firm 16 months ago. Previously, Amato was a partner in financial services for consulting firm Ernst & Young. He studied business and law.