One of the most consequential agreements seen in recent years, between the UK and Switzerland, was the Bern Financial Services Agreement, which came into force in January 2026.

This agreement has simplified and expanded the access British and Swiss companies have to each other’s financial services, investment and insurance industries. This momentous agreement would not have been possible without the efforts of Joe Cassidy, the current Head of Technology, Media and Telecoms for KPMG.

In a career spanning four decades, Cassidy has become an expert across banking, capital markets, technology and international economic cooperation. However, for someone at the pinnacle of expertise and knowledge, his story has a perhaps unexpected start.

Seizing opportunity when it arrives

One of the main themes Cassidy consistently harks back to is the idea of creating opportunity for those around him and generating the serendipity for those to strive for and exploit. This is perhaps best illustrated by how he came to be the expert he is today.

Having grown up in Manchester, Cassidy’s entry to the professional world was neither conventional nor pre-ordained. Without a clear plan or passion at his back, and with university not on the cards, he walked into a job centre and asked what work was available. He was then directed to a position at Barclays Bank, beginning a 10-year apprenticeship in what today would be called software engineering, specialising in secure payment systems at a time when financial technology was still in its juvenile stage.

Over the decades, Cassidy became adept in the world of finance. “At the start of my journey, I didn’t know what I was good at,” Cassidy told us, but eventually he found that his passion sat “at the intersection of technology, data, and telecommunications in financial services.” 

He added that his skills were a collation of all the expertise, advice and wisdom imparted to him by his many mentors and employers.

The beginning of a global impact

His links to Switzerland began with the Continuous Linked Settlement Project – a landmark initiative that involved banks across the world. His involvement in his late 20s would see him work across the world, from New York and Frankfurt to working with key Swiss banks like UBS and Credit Suisse.

This experience crystallised his belief that global trade, capital flows and financial stability depend on cooperation across nations, cultures and interests. “You don’t really feel part of the world until you engage with it — until you collaborate across cultures,” he told us.

After a spell at Nomura, where his expertise in the field deepened further as he handled strategic work across the company’s UK and European franchises, in 2015, he joined KPMG, a company he still works for today. 

Agreements, trade and negotiations

Another pivotal moment came following the United Kingdom’s departure from the European Union. As the UK began to pivot towards a new global outlook, Cassidy was invited by TheCityUK to chair a new initiative to focus on trade between the United Kingdom and Switzerland.

What ensued was a near-decade-long negotiation, which was propelled by Cassidy, his team and his counterparts at EconomieSuisse. With so many moving parts, he focused on finding a common thread to propel the agreement further.

Cassidy put forward a vision for the agreement that was rooted in pragmatism. “Shared values and shared interests are where real cooperation begins…You don’t tear up the old world order — you recalibrate it.” Resilience was what defined his efforts, an attribute which he calls one of the “most important” you can have. “If you start something, finish it — even if it takes eight years.”

Throughout having to navigate political turnovers, a global pandemic, and the beginning of the global instability which has defined the 2020s, the BFSA came into force on January 1, 2026. The largest bilateral agreement made between the United Kingdom and Switzerland since 2021 came into effect.

Though the moment marked the end of eight years of work, advocacy and study, Cassidy sees the BFSA as a work in progress. “The end is never the end – you sign something, but it has to live and breathe…The world doesn’t move in straight lines, and neither should our agreements.” “Sometimes progress just means clearing part of the pathway so others can build the road.”

Shaping the future beyond agreements

To this day, Cassidy remains deeply embedded in shaping the future of financial services in the UK and beyond, and is actively involved in initiatives relating to defence, critical infrastructure and global governance. In terms of the future, he predicted: “The foundations of future growth are digital, data, and intellectual property.”

On reflection, Cassidy is humble when describing his skills and ability, instead choosing to focus on his work ethic. “I come from a background where honest graft mattered — and it still does… resilience is one of the most important attributes you can have.” “There’s a lot of luck, chance, and magic on any long career — but you still have to work very hard.”

That resilience is reflected in his advice for young people, advising that no matter how difficult challenges may be, whether they be confined to one’s personal life or concern the fates of two countries, honest effort is the key. “Today’s a new day. Get up, dust yourself off, and go again,” he concluded.