Did working for a big bank put you at a disadvantage in your career change?

To be honest, no. I wouldn't hire about 80 percent of the managing directors in Swiss banking to drive a forklift (laughs). In earnest, Swiss small- and mid-sized firms are massively underestimated.

«Having to prove themselves would be beneficial for most Paradeplatz bankers»

They employ highly-specialized staff who compete internationally with courage and know-how. I think it would be a beneficial experience for a lot of Paradeplatz bankers to try and prove themselves in an environment like this. And I'm certain: the majority would fail. 

Why?

Banks offer a very structured workplace. So many processes are set out for you – you have very little freedom. This rubs off and you become somewhat complacent. Small- and mid-sized firms offer a far higher degree of responsibility, accountability, and speed of implementation.

«I won't sugarcoat my lower salary»

Big banks hardly know anymore who decided what and why. Decisions are pushed back and forth and bent so far until ultimately no one has to be responsible for them anymore.

Are Swiss bankers working in a bubble, Robert Zimmermann? 

Zimmermann: Of course banking is a relatively closed universe, but that's also true of other sectors. My observation is Switzerland employs a lot of highly qualified and motivated talent. The industry's productivity is relatively high.

Bankers are still earning pretty good money. Did you have to make concessions when you changed careers, Stephan Peterhans?

Peterhans: Definitely, there's no sugarcoating that. I earned very well in banking. Today, I have more satisfaction because my salary and my bonus are in line with my performance. I get a lot more appreciation in non-monetary terms for what I do too.

When the company's results are poorer, I feel it, but I also have the commensurate upside potential when profits improve. Bonus payments in banking seemed out of touch with reality when the firm posted losses.

Click here to the second part of finews.com's interview with Stephan Peterhans and Robert Zimmermann