Swissquote has
announced the creation of a Chief People Officer (CPO) position, appointing
long-serving Head of Human Resources Tara Yip to the role effective January 1,
2025.
Swissquote Elevates HR
Head Tara Yip to Newly Created Chief People Officer Role
The
appointment marks a significant strategic shift for Switzerland’s leading
online bank as it elevates human capital management to the executive level.
Yip, who has led Swissquote’s HR operations for over two decades, will join the
company’s Executive Management team in her new capacity.
A Swiss
native born in 1973, Yip brings extensive experience in talent management,
diversity initiatives, and organizational development to the role. During her
22-year tenure as Head of Human Resources, she has played a pivotal role in
managing the company’s workforce expansion and integrating personnel from
various acquisitions.
“We
are pleased to promote Tara as our new Chief People Officer from January
2025,” said Marc Bürki, CEO of Swissquote. “Tara, in her role as Head of Human Resources, has been instrumental to the company’s growth story. In a
competitive environment where people are key to the success of a company,
Tara’s expertise, experience, and leadership will be invaluable as we continue
to grow.”
The CPO position was created as Swissquote continues to expand its digital banking operations. Yip, who holds a psychology degree from the University of Geneva, will strengthen the company’s
people-centric culture.
This is another significant C-level move following the appointment of a new Chief Operating Officer (COO) a year ago. In September 2023, Swissquote named Nestor Verrier as COO, succeeding Lino Finini, who retired at the end of last year.
Swissquote Reports 19%
Revenue Growth
Swissquote
reported CHF 316.9 million in net revenues for the first half of 2024,
reflecting a 19.3% increase compared to the same period last year. The
company’s pre-tax profit rose to CHF 169.7 million, a significant 35.9% growth.
Additionally, client assets grew to CHF 68 billion, up 19.6%, with net new
money inflows totaling CHF 3.8 billion. In light of these results, Swissquote
has revised its 2024 pre-tax profit target to CHF 320 million.
The
Swiss-based online broker has also increased its visibility in sports
sponsorships, becoming the principal sponsor for two local ice hockey teams,
Zurich’s ZSC Lions and Genève-Servette Hockey Club.
Last week,
Swissquote expanded its services to offer fractional share trading. By removing the need to purchase full shares, Swissquote aims to give clients more flexibility. Previously, trading strategies were often constrained by share prices instead of available
funds.
This article was written by Damian Chmiel at www.financemagnates.com.
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