Swissquote Seeks CEO to Lead South Africa Operations

Swissquote seeks a CEO to lead its South African operations. The role will center on growing the bank’s network of wealth managers and institutional clients across the region.

Jan De Schepper, who heads the digital banking app Yuh and also serves as Chief Marketing Officer (CMO) for Swissquote Group, announced the opening on LinkedIn. In his post, he called Cape Town “one of my favorite cities.” The new CEO will report to the local board of directors and collaborate closely with executive management back in Switzerland.

The bank is searching for someone with a strong background in digital banking and offshore solutions, someone capable of expanding its institutional and B2B2C business. While Swissquote’s South African subsidiary functions as a commercial hub, all client accounts are booked in Switzerland.

Swissquote made its entry into South Africa in March 2024 by acquiring Optimatrade Investment Partners, a Cape Town-based company that had acted as an introducer broker for over a decade. The acquisition provided Swissquote with a Financial Sector Conduct Authority (FSCA) license and a local footprint to serve clients seeking to move assets offshore.

Swissquote Seeks CEO to Lead South Africa Operations

Currently, Michael Hunziker serves as director and head of Swissquote South Africa. The search for a new CEO could indicate potential leadership changes, though it’s also possible the new executive will work alongside Hunziker rather than replace him.

Swissquote’s recruitment push comes as several brokers expand in South Africa. Exness opened a regional hub in Cape Town in November 2025, with co-founder and CEO Petr Valov highlighting “immense potential in Sub-Saharan Africa.”

Capital.com applied for a South African license in December 2025 as part of its global growth strategy, while EBC Financial received FSCA approval last November.

Not all firms are doubling down, however. IG Group exited South Africa in May 2025, closing local accounts but allowing South Africans to maintain offshore accounts. The contrasting moves show how brokers remain divided on whether to serve clients through local licenses or offshore structures.

The incoming CEO will be tasked with building relationships with wealth managers, family offices, and professional investor networks. Swissquote aims to establish itself as the go-to provider for South Africans seeking to diversify assets internationally.

South Africa’s digital banking market ranks second globally on Oliver Wyman’s index, just ahead of the UK and Germany. The country excels in end-to-end sales capabilities, though some areas, like robo-advisory services, still lag behind.

Swissquote itself has been performing strongly. In the first half of 2025, net revenue hit a record CHF 358.2 million, with 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.

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