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Swiss universities are not only funded by the federal government and tuition fees. They are also dependent on third-party funds. On the so-called “donations”.
One of the donors is Credit Suisse. According to the “Luzerner Zeitung”, it finances ten seats in Switzerland at 3.6 million francs per year. It has now become clear that the bank will continue to operate under the umbrella of UBS for a few more years. So the CS name will remain.
This means that the funds are also secured for now. In fact, universities should be satisfied with this. The Problem: After all the turmoil, the Credit Suisse name is now a thorn in many. And that’s not a good figure in a research paper.
own conditions
Although donations are mentioned, it is actually nothing more than sponsorship. The contracts specify what CS will receive for CHF 3.6 million per year. Each university has created its own conditions. The CH-Media editorial team received insights into all contracts.
The links with CS are most clearly in St. Gallen University. This is the special «Campus Bank». There used to be an ATM, but CS now offers a virtual bank on the university’s intranet. All students receive an offer for their CS account when they sign up. The university is not allowed to have other bank partners.
ETH Zurich has been associated with CS for the longest time. But on campus, you have to search for the name for a long time. You’ll find what you’re looking for in the lecturers’ foyer – this is a canteen on the top floor of the ETH main building. There, a big board mentions CS but no logo. However, CS is also invited to events and talks by ETH to keep up to date with the latest research.
professorship name
Both the University of Zurich and the University of Basel must choose the largest Swiss bank for funded chairs. In Zurich it looks like: “Professorship in Corporate Culture, Business Ethics and Social Responsibility Economics, donated by Credit Suisse”. The name is further present at the University of Basel. Professorship name: “Credit Suisse Asset Management (Switzerland) AG – Professorship for DLT/Fintech”.
But there is one Swiss bank that is even tougher in the negotiations: UBS. The “UBS Center” at the University of Zurich is also run by the UBS Foundation. That’s 27 million Swiss francs in ten years. This raises the question of what this means for renegotiations with CS and her mother-to-be. One thing is clear: Swiss universities need additional funds.
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.
