Siegfried wins the tenth Treasury Award from Commerzbank Switzerland. Commerzbank Switzerland annually honors companies whose treasury operations impress with exceptional financial strategies. What counts are not only innovative approaches, but above all their successful implementation in practice. At the tenth edition of the Treasury Award, the Siegfried Group came out on top. Reason to celebrate: The treasury team of the Siegfried Group, led by Giacomo Tovena and Paul Rico Schede, was honored with the tenth Treasury Award at the Commerzbank Switzerland Finance Summit in Zurich. (Image: zVg) More articles Thursday, 03 September 2026 14:22 The view from the 13th floor of Zurich's "Haute" stretched far over the city's rooftops and the lake on Wednesday evening. A backdrop that made an impression, even if the view into the depths - at least for finews - caused a brief touch of vertigo. It was not only geographically a high point: Around 40 treasury executives from well-known Swiss companies had followed the invitation of Marc Steinkat, CEO of Commerzbank Switzerland, to the "Commerzbank Switzerland Finance Summit 2026". At the center of the evening was the now tenth presentation of the "Commerzbank Switzerland Treasury Award". The award went this year to the treasury team of the Siegfried Group. The internationally active pharmaceutical company impressed with its financing strategy and the implementation of several demanding projects. The prize is endowed with 5,000 francs. In addition, Andreas Stöckli, Managing Director of the Hotel Schweizerhof Zurich, presented the winning team with a consumption voucher worth 1,500 francs. Small team, international responsibility Giacomo Tovena, Head of Group Treasury at pharmaceutical manufacturer Siegfried, and Treasurer Paul Rico Schede were allowed to accept the award. Siegfried's treasury team manages central financial tasks across four continents and eight countries. This includes corporate financing and internal capital allocation as well as liquidity and currency risk management, working capital management, and precious metal leases. Particularly significant was Siegfried's return to the Swiss capital market. After four years, the company placed a bond over 300 million francs in 2025. In doing so, Siegfried strengthened and diversified its long-term financing and, together with a renewed revolving credit facility, placed it on a broader basis. The introduction of a non-recourse factoring facility was highlighted as a further achievement. In an internationally positioned and highly regulated business environment, this was not a standard project. Its implementation required not only expertise but also perseverance and close collaboration beyond the treasury department. "A small team with a broad horizon." The laudatory speech for this year's winner was given by Philipp Haumüller, Senior Vice President Global Treasury at Avolta. The travel retailer had received the Treasury Award 2025 (as reported by finews), after, among other things, the financing following the merger of Dufry and Autogrill and the reduction of debt had convinced the jury. Haumüller emphasized that successful treasury work is often hardly visible externally. When sufficient liquidity is available, financing is reliably available, and risks are controlled, much seems self-evident. However, behind this are clear decisions, reliable processes, and employees who take on responsibility. The Siegfried team brings together these qualities despite its manageable size. Or, as summarized in the laudatory speech: "A small team with a broad horizon." On the topic. So you don't miss anything: The most important news daily and free of charge.

Leonteq: major shareholder Frey calls for 100 million franc Share Buyback. Changes are taking shape on Leonteq's board of directors. Major shareholder Rainer-Marc Frey is also pushing for a share buyback of up to 100 million Swiss francs, while another of his proposals is facing opposition. Tuesday, 25 August 2026 08:25 Press play to listen to this content The reshaping of Zurich-based derivatives specialist Leonteq following the arrival of Rainer-Marc Frey is gathering pace. The board of directors is proposing Andreas Casutt as its new chairman. Former Siegfried CFO Reto Suter is also set to be nominated as a new board member, Leonteq announced on Tuesday. Shareholders will vote on the appointments at the extraordinary general meeting on September 21, 2026. The elections remain subject to final regulatory approval. Frey Pushes for Share Buyback At the same time, major shareholder Rainer-Marc Frey is making his influence felt. Through H21 Macro Limited, he indirectly holds 23.3 percent of Leonteq's shares. Frey is proposing that the board be instructed to launch a share buyback programme covering up to 5 million shares or a maximum of 100 million francs. Under his proposal, the programme would be conducted via a separate trading line between the extraordinary general meeting and the end of June 2028. His proposal is not fundamentally at odds with the board's own plans. In July, the board had already confirmed its intention to launch a share buyback in early 2027, provided that the CET1 ratio remains sustainably well above 15 percent. For 2026, Leonteq is also considering a total distribution through dividends and share buybacks equivalent to the group's net profit. While the board therefore supports a share buyback in principle, it is not making a voting recommendation on Frey's specific proposal. Any buyback would also require approval from the Swiss Financial Market Supervisory Authority Finma, the Swiss Takeover Board and SIX Swiss Exchange. Second Frey Proposal Faces Opposition The new major shareholder and the board are further apart on another proposal. Frey wants to amend the articles of association to allow board members to receive variable compensation in the form of Leonteq shares in addition to their fixed remuneration. The variable component would be linked to the performance of Leonteq's share price and conditional on the acquisition or ownership of a specified number of shares. Any shares awarded would be subject to a lock-up period of at least three years. The board is recommending that shareholders reject the proposal. It argues that variable, performance-related remuneration is not in line with best practice for non-executive directors of listed Swiss companies. At present, at least 40 percent of board compensation is already paid in shares, which are subject to a three-year lock-up period. Casutt Set to Become Chairman In parallel, Andreas Casutt is set to succeed long-serving chairman Christopher Chambers. The lawyer, born in 1963, is a partner at Zurich-based corporate law firm Niederer Kraft Frey (NKF) and served as chairman of pharmaceutical supplier Siegfried from 2014 until April 2026. He has also been a member of Mikron's board since 2013. The nomination marks a change from Leonteq's original succession plan. Felix Oegerli had initially been designated as the new chairman. According to Leonteq, Oegerli has now decided to focus on his future role as a significant minority shareholder and will not stand for election. Reto Suter is being proposed as another new board member. The finance executive, born in 1971, served as CFO of Siegfried from 2017 to 2026 and has experience spanning industry, financial services and private equity. He also sits on the boards of Inficon and Accelleron, where he chairs the audit committee at both companies. Le Baquer to Become Vice-Chairman Philippe Le Baquer, a member of Leonteq's board since 2021, is set to become vice-chairman following the extraordinary general meeting. He will succeed Philippe Weber. Chambers and Weber will leave the board as previously announced. Chambers had chaired Leonteq for more than eight years.