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The glorious end of the great Swiss bank Credit Suisse marks a change that began long ago: the banking world has lost much of its former glory in recent years. Bankers are turning their backs on the industry, customers are protesting with their feet, shareholders are selling their shares, and trust is eroding.
Does the banking world have a future as it is today? What needs to change in the industry? Where are the opportunities and where are the risks? “Durchblick” explores these questions in this podcast episode.
VIEW business editor Christian Kolbe spoke with researchers, industry experts and critics.
“Bonuses attract the wrong people”
Economist Margit Osterloh has been a long-time critic of previous bonus culture. “It is always said that to get talented people you have to have high bonuses. When I look at CS, I can only laugh at it. Frankly, they weren’t the best performers!” She believes the perpetual bonus culture is attracting the completely wrong executives, she believes.
Economic historian Tobias Straumman says the state risks also having to play fire department at UBS in a few years: “It’s very possible, we’re in a hidden financial crisis that hasn’t exploded yet, but it’s furious everywhere.”
Tips for new UBS management
Marianne Wildi, president of the humble Hypi-Bank Lenzburg, and Andreas Dietrich, professor of banking and finance, also have a say in the podcast. This explains whether and where the new banking giant UBS could threaten competition and why the financial center has lost its global importance. Wildi gives tips to UBS boss Sergio Ermotti on how to integrate CS and what the big can learn from the little ones.
The bank quake in the spring shook Switzerland, and the collapse of Credit Suisse still resonates in the financial center today. And you can listen to the last episode of “Durchblick”.
Interview: Christian Kolbe
Editor: Daniel Fanslau
Moderators: Christian Kolbe and Daniel Fanslau
Producer: Carlo Lardi
“Durchblick” appears on Blick.ch, Spotify and Apple Podcasts.
Source : Blick
I am Dawid Malan, a news reporter for 24 Instant News. I specialize in celebrity and entertainment news, writing stories that capture the attention of readers from all walks of life. My work has been featured in some of the world’s leading publications and I am passionate about delivering quality content to my readers.
