Barclays Bank (Suisse) SA has announced the appointment of John Shipman as new CEO
In a statement issued from London and Geneva on Wednesday, the Swiss arm of Barclays confirmed that Switzerland’s financial markets regulator, FINMA, has approved Shipman’s appointment.
He will be based in Geneva and report to Annabelle Bryde, head of Barclays Private Bank International.
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Shipman brings more than 25 years of industry experience to the role. He joins from HSBC, where he most recently served as interim CEO of its Swiss private banking operations and country head for Switzerland, after holding a series of senior risk management positions within the group. Earlier in his career, he held senior roles at UBS and also worked with global consulting firms.
His appointment follows his departure from HSBC in November 2025, with the executive moving to the British lender’s Swiss rival after overseeing a transitional period at HSBC’s private bank.
At the time of his exit, reports indicated that HSBC’s Swiss arm had been raising compensation for certain staff amid a period of departures within the business. Shipman was among the most senior executives to leave during that phase.
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At Barclays Bank (Suisse) SA, the leadership transition also sees Rahim Daya, who has spent 15 years with the firm and previously led the Swiss entity, move into a new role as global head of sales management for Barclays Private Bank and Wealth Management.
Bryde said: ‘We are delighted to welcome John to Barclays. I am confident that under his leadership, we will continue to grow our Swiss business as a strategic platform for international wealth corridors and reinforce our market position as a leading institution committed to delivering excellence for our clients and delivery partners.’
The appointment also comes as competition intensifies in Switzerland’s private banking market, not least because regulatory barriers between the UK and Switzerland have begun to fall away.
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The Berne Financial Services Agreement, signed in December 2023 and in force since 1 January 2026, has created a new framework governing cross-border financial services between the two countries.
The treaty is built on mutual recognition and stipulates that firms operating under one jurisdiction’s regulatory and supervisory standards can, in defined areas, serve clients in the other without having to secure full additional authorisation.
In practical terms, that means UK institutions face fewer procedural hurdles when providing financial services in Switzerland, while Swiss banks that meet domestic regulatory requirements can access certain segments of the UK market without undergoing a parallel approval process.
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Officials on both sides have framed the deal as a strategic step, with UK officials describing it as part of a wider push to reinforce the City of London’s position in global wholesale markets after Brexit, while their Swiss counterparts have framed it as a way to deepen ties with one of the country’s most significant financial partners.
Bilateral trade in financial services has expanded markedly in recent years, with volumes rising sharply between 2016 and 2022 and reaching tens of billions of Swiss francs annually by 2024.
For private banks in Geneva and Zurich, the agreement increases competition, allowing UK firms to access Swiss opportunities more easily while also easing cross-border services for wealthy and corporate clients.
