Swissquote Seeks CEO for South Africa Operations

​Swissquote is recruiting a Chief Executive Officer (CEO) to head its South African operations, underscoring the Swiss bank's ambitions to expand its footprint among wealth managers and institutional clients across the region.

The opening was announced on LinkedIn by Jan DeSchepper, who leads the digital banking app Yuh and serves as Swissquote Group's Chief Marketing Officer (CMO). DeSchepper described Cape Town as  "one of my favorite cities"  and highlighted the strategic importance of the role. The CEO will report to the local board of directors while working closely with Swissquote's executive management team in Switzerland.

Swissquote is seeking a candidate with strong experience in digital banking and offshore solutions, capable of scaling the bank's institutional and B2B2C businesses. While the South African entity functions as a commercial and relationship hub, all client accounts continue to be booked in Switzerland.

South Africa as an Offshore Banking Hub

Swissquote formally entered the South African market in March 2024 through the acquisition of Optimatrade Investment Partners, a Cape Town–based firm that had acted as an introducer broker for more than a decade. The transaction provided Swissquote with a Financial Sector Conduct Authority (FSCA) license and a local platform to serve clients looking to move assets offshore.

Michael Hunziker currently serves as Director and Head of South Africa at the subsidiary. While the CEO search may point to upcoming leadership changes, it remains unclear whether the new executive will replace Hunziker or work alongside him.

FinanceMagnates.com contacted Swissquote for clarification on the future leadership structure but had not received a response at the time of publication.

Brokers Intensify Focus on South Africa

Swissquote's hiring push comes amid heightened competition as global brokers increase their presence in South Africa. Exness opened a regional hub in Cape Town in November 2025, with co-founder and CEO Petr Valov citing "immense potential in Sub-Saharan Africa." Capital.com applied for a South African license in December 2025 as part of its global expansion, while EBC Financial secured FSCA approval in November.

However, not all firms share the same outlook. IG Group exited the South African market in May 2025, closing domestic accounts while allowing clients to maintain offshore accounts. These contrasting moves highlight a broader industry divide between operating under local licenses and serving clients via offshore structures.

Institutional Growth in Focus

Swissquote's incoming CEO will be responsible for deepening relationships with wealth managers, family offices, and professional investor networks, positioning the bank as a preferred partner for South Africans seeking international asset diversification.

South Africa ranks second globally on Oliver Wyman's digital banking index, ahead of the UK and Germany, scoring particularly high in end-to-end sales capabilities. However, local banks still trail in areas such as robo-advisory services.

The recruitment follows a period of strong financial performance for Swissquote. The bank reported record results in the first half of 2025, with net revenue reaching CHF 358.2 million and pre-tax profit climbing to CHF 185 million. Swissquote has also continued to expand strategically, recently taking full ownership of Yuh after acquiring PostFinance's remaining stake.