Barclays has no plans to exit Switzerland market following the departure of its Swiss chief Simon Gaston, the bank’s head of wealth management for Europe, Francesco Grosoli, told Bloomberg.
"We’re here to stay in Switzerland. It’s a good business," Grosoli was quoted as saying by the publication.
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The British banking giant plans to announce a new management team for its Swiss private bank by the end of March.
The bank has also hired a replacement for Simon Gaston, however Grosoli refused to disclose the person hired.
In November last year, Gaston told reporters that despite being unprofitable, retaining a Swiss private banking unit is important to increasing business from rich individuals and families.
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