Barclays Capital has created a Swiss franc bond team based in Zurich to tap a rise in expected demand in the sector, adding two bankers from Royal Bank of Scotland as part of the new team at the bank. Last year was a record for Swiss bonds, but the relatively small market has been tipped for growth as a wider range of companies look at issuing in the currency.

The UK investment bank has put Kuno Kennel, head of distribution for Switzerland in charge of the Swiss franc capital markets operation. Kennel joined in March this year from RBS where he was Switzerland country head. Kennel will be joined by Martin Meili and Reto Meyer, who have both been hired from RBS and start in Zurich today. The two were based in Zurich before, according to RBS.