Swissquote is looking for a Chief Executive Officer (CEO) to run its South African operations, a role that will focus on expanding the bank's network of wealth managers and institutional clients across the region.
Jan De Schepper, who leads digital banking app Yuh and serves as Chief Marketing Officer (CMO) for Swissquote Group, announced the opening on LinkedIn, calling Cape Town "one of my favorite cities". The position reports to the local board of directors and works closely with executive management in Switzerland.
The Swiss bank wants someone with a background in digital banking and offshore solutions who can grow its institutional and B2B2C business. Swissquote operates its South African subsidiary as a commercial hub while booking all client accounts in Switzerland.
Regional Hub for Offshore Banking
Swissquote entered South Africa in March 2024 by acquiring Optimatrade Investment Partners, a Cape Town company that had worked as an introducer broker for more than ten years. The deal gave Swissquote a Financial Sector Conduct Authority license and a local presence to serve clients looking to move assets offshore.
Michael Hunziker currently serves as Director and Head of South Africa at the subsidiary. De Shepper told FinanceMagnates.com: “It has always been the plan that Michael Hunziker will leave the company after a transition period of at least three years (planned for Q1 2027)."
“Now is the time to start planning his succession carefully to ensure that the new CEO benefits from a long introduction phase. Internal candidates are favored.”
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Brokers Pile Into South African Market
The recruitment drive comes as multiple brokers expand their presence in South Africa. Exness opened a regional hub in Cape Town in November 2025, with co-founder and CEO Petr Valov saying the company sees "immense potential in Sub-Saharan Africa."
Capital.com applied for a South African license in December 2025 as part of its global expansion strategy, while EBC Financial received FSCA approval last November.
Not everyone is betting on the market. IG Group exited South Africa in May 2025, closing domestic accounts while allowing South Africans to keep accounts under offshore entities. The moves highlight how brokers are splitting on whether to serve clients through local licenses or offshore structures.
Institutional Growth Targets
The new CEO will be tasked with building relationships with wealth managers, family offices, and professional investor networks. Swissquote wants to position itself as the go-to provider for South Africans diversifying assets internationally.
South Africa's digital banking market ranks second globally on Oliver Wyman's index, ahead of the UK and Germany. The country scores particularly high in end-to-end sales capabilities, though banks there still lag in areas like robo-advisory services.
Swissquote posted record results in the first half of 2025, with net revenue hitting CHF 358.2 million and pre-tax profit reaching CHF 185 million. The bank has been expanding aggressively, recently taking full ownership of Yuh after buying out PostFinance's stake.
The article was updated on Jan. 12 at 1125 CET to include a comment from the CMO on the future of the company's current branch Director.
