Barclays will retain its private bank in Switzerland after its Swiss chief resigned, according to an executive at the bank’s wealth management division.
“We’re here to stay in Switzerland,” Francesco Grosoli, head of wealth management for Europe, said by telephone on Monday. “It’s a good business.”
Bloomberg News reports that Barclays plans to announce a new management team for its Swiss private bank at the end of March and has hired a replacement for Simon Gaston, who ran the Swiss unit from Geneva since the middle of 2013, Grosoli said. He declined to identify the person hired.
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