After a two-year delay, the demise of Credit Suisse is echoing loudly in the world of classical music.

As the «Sonntagszeitung» reported in its latest edition, the married couple Sibylla and Christoph M. Müller are withdrawing as main sponsors of the Lucerne Festival, probably the most prestigious and internationally renowned classical music festival in Switzerland under the direction of artistic director Michael Haefliger. 

Rapid Resignation of Urs Rohner

According to the newspaper's research, the main sponsor asked the festival management to remove the two former Credit Suisse presidents Urs Rohner and Walter B. Kielholz from the Lucerne Festival Foundation Board following the emerency merger.

This effort was only partially successful: Urs Rohner left the board before the end of 2023, and his seat was taken by Iqbal Khan as a representative of UBS; UBS is continuing Credit Suisse's previous commitment, which includes a prize for young soloists. The Müller couple then renewed their commitment for 2024.

Kielholz as the Bone of Connection

Kielholz, however, remained on the committee. Other members from the financial sector include Suisse Life Chairman Rolf Dörig, Zurich Chairman Michel M. Liès, former Zurich Head of Human Resources and Culture Isabelle Welton and former Roche CEO and Credit Suisse Board member Christoph Franz.

«I was outraged,» Müller told the Sonntagszeitung newspaper. «If we had known that Kielholz would stay, we would never have renewed the sponsorship for 2024.» The former main sponsor let it slip that he felt he was not informed transparently: «They obviously didn't have the courage to suggest that Kielholz resign, nor to inform me that he was staying.»

On December 13, 2024, according to the media report, Christoph M. Müller and director Haefliger had a discussion at the Reussbad restaurant in Lucerne: «When Müller asked when Kielholz would finally step down, Haefliger said that there were no plans to retire early and that Kielholz would be replaced in 2025 anyway by another representative of the reinsurer Swiss Re, of which Kielholz is Honorary Chairman,» the newspaper reports. 

«Feeling Social Ostracism»

Müller did not want to accept this answer and, together with his wife, decided to end the sponsorship in 2025.

He explains his motives to Tamedia. «It is not compatible with the values of a cultural institution that the former CS bosses can continue to present themselves in a good light thanks to the festival.» He emphasizes that it is about «values in culture and society». He had decided to go public, stating, «They should feel the social ostracism – that's important»

Replacement Already Found

The Lucerne Festival is quoted as saying: «We regret the decision, but are very grateful to Dr. Christoph M. Müller and Sibylla M. Müller for their generous commitment over many years.» As for Walter Kielholz, as «a representative of our long-standing sponsor Swiss Re – where he serves as Honorary Chairman – he has been a valuable and committed member of the Board of Trustees for many years. The festival owes him a great deal, both in his role and as a long-standing private patron.»

The «Sonntagszeitung» newspaper writes, citing insiders, that the main sponsorship brings the festival a «mid-six-figure sum» each year. Nevertheless, the financial impact on the Lucerne Festival appears to be manageable: the Schwöbel family, owner of the medtech company B. Braun, is apparently stepping in to fill the gap.

Experience in the Financial Center

The controversy illutrates different philosophies on the social responsibility of former financial center leaders.

Christoph M. Müller has made a considerable fortune as a former business lawyer and real estate investor. He and his wife jointly own the Vaillant Group, which specializes in heating systems. He also has some experience in the financial sector: Just over ten years ago, he was a temporary member of the boards of directors of Citibank and Commerzbank in Switzerland.