2023-11-12 06:42:50
Published on November 12, 2023 7:42 a.m. / Modified on November 12, 2023 9:51 a.m.
Much has been said in the Credit Suisse case regarding the influence, often described as harmful, of senior foreign executives who worked at the bank. The American Brady Dougan would have instilled a culture of excessive risk-taking, while the Franco-Ivorian Tidjane Thiam would have lost himself in ego conflicts leading to the espionage affair which precipitated his departure. This rhetoric fueled the idea that Swiss banks would be guided by managers above ground, without local ties. To what extent are senior banking executives international, by their nationality or their professional background? Is this necessarily an asset, and in what circumstances? What does it really mean, today, to have an international profile in the Swiss banking sector? Two French-speaking researchers provide answers.
Seven of the 12 members of the UBS board of directors are foreign nationals – including chairman Colm Kelleher – compared to three Swiss and two dual nationals. The distribution is practically the same within the general management, with seven foreigners, two Swiss and one dual national. The Credit Suisse executive committee includes two Swiss, three foreigners and one dual national, Managing Director Ulrich Körner.
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#transnational #Swiss #banker #myth #reality
