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The bank shakedown has reached the orchestra pit: After almost 40 years, the Zurich Tonhalle Orchestra ends its cooperation with Credit Suisse – LGT Private Banking joins shortly as the new main sponsor.
Due to the current situation at CS, Tonhalle-Gesellschaft Zurich has decided not to continue negotiations on the extension of the contract, which will expire on 31 July, according to a statement Monday. This
LGT writes that the “unexpected end of Credit Suisse” poses a challenge for many cultural institutions.
The prince family steps in
As the main sponsor, CS has “generously supported” the Zurich Tonhalle Orchestra since 1986, according to the orchestra’s statement. The Swiss bank did not abandon the orchestra even during the Corona period.
Tonhallen Chairman Martin Vollenwyder is pleased that LGT Private Banking, owned by the Prince Family of Liechtenstein, will now take over the partnership shortly and seamlessly for an initial period of two years. “They are an ideal partner for us as they have been involved in classical music for many years,” Vollenwyder said in a statement. (SDA/sfa)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
