Mr. Krapl, the latest survey on career prospects in the Swiss financial sector shows that professionals' assessments have stabilized, but at a cautious level. Is this new «normality» in the sector an expression of realistic expectations or a sign of structural stagnation?

I don't see any signs of structural stagnation. It's important to remember that the financial industry remains in the midst of technological and regulatory transformation.

In this phase, stable, albeit cautious, career prospects are rather an expression of a reflected perception of reality.

Around a third of those surveyed described their career prospects as «medicore». What specifically would have to happen for the Swiss financial sector to be perceived as having a clear future again?

I am convinced that the Swiss financial industry is still well positioned. We have numerous competitive advantages over rival financial centers.

«Although new job profiles are emerging, it is unclear whether these roles will last in the long term.»

These include, in particular, excellently qualified employees, political and economic stability and the unbroken innovative strength of the industry.

Of course, the broad perception does not always correspond to reality and is certainly currently also influenced by global developments beyond the financial industry. This underscores the importance of clear, strategic communication that conveys not only the stability of the Swiss financial center, but also its agility and capacity for change.

At the same time, we must ensure competitive and balanced framework conditions in the key dimensions of qualifications, innovation and regulation.

The survey also shows that digitalization and ESG issues have created new job profiles. Which specializations offer the best career prospects?

The dynamics in the ESG sector and the rapid use of AI technologies are having a noticeable impact on career prospects. Even short-term forecasts are difficult - looking five years ahead, making reliable predictions becomes nearly impossible.

Although new job profiles are emerging, particularly in the AI context, it is unclear whether these roles will last in the long term. There is a risk of specializing in an occupational field that will quickly change or disappear.

That's why I think it's crucial to focus less on short-term trends and more on broad, high-quality training that promotes adaptability.

«New technologies have always triggered fears of disruption.»

Those who have a solid professional foundation and remain flexible are better able to deal with change - this guiding principle also characterizes the application - oriented training and continuing education courses offered by the Swiss Finance Institute (SFI).

Rising regulatory complexity – particularly in areas such as ESG – is frequently viewed as a burden. Do you also see opportunities for new job profiles or even locational advantages for the Swiss financial center?

Regulation is frequently viewed as a drag on momentum – a perception that, for now, may not be entirely unfounded. Those who implement regulatory requirements efficiently can gain strategic advantages.

In addition, the rapidly changing environment is actually creating new job profiles, although, as I said, it is very difficult to predict which of these functions will survive the medium term.

However, the Swiss banking world has recognized that it is worth promoting such new profiles and skills in a targeted manner, and it is up to the SFI to impart the relevant skills in theory and practice.

Despite technological progress, uncertainty about future prospects remains high. How well is the industry prepared for disruptive developments such as AI, blockchain, or tokenization?

New technologies have always triggered fears of disruption. In reality, such transformations usually unfold more slowly and less dramatically than initially feared.

In IT, it is often not the first movers but those who proceed strategically and with care who prove more successful over time. Many banks are adopting this approach – one that appears both prudent and promising.

Young talents are looking for purpose and sustainability in their careers. Can the Swiss financial sector meet these expectations?

The Swiss financial center has a lot to offer here: from sustainable investment strategies and impact investing to technological innovations that make financial markets more accessible to a broader population.

«Those who take this to heart are likely to find professional fulfillment in the financial industry.»

At the same time, we must not forget that traditional banking services, such as financing SMEs or granting mortgages, are key enablers for many socially, economically, and ecologically desirable developments, for example in the fight against climate change, which cannot be won without the financial sector.

If you had to give advice to a recent school or university graduate, which area of the financial industry would you recommend?

The career profiles within the financial industry are so diverse that I would not presume to favor one direction over another. Ultimately, it is important that school or university graduates thoroughly explore the many opportunities within the financial sector and align them with their own interests and strengths.

It is also clear that in today’s banking world, targeted and ongoing training activities, combined with strong personal commitment, are essential success factors. Those who take this seriously are likely to find professional fulfillment in the financial industry.

The international financial centers, including Switzerland with Zurich, Geneva, and Lugano, are in fierce competition. What does Switzerland need to do most urgently to stay at the forefront?

Successful financial centers stand out in global competition through stability, expertise, and innovation. Switzerland possesses all these qualities – but must safeguard these achievements and, in my view, promote them more actively.

«A credible approach to engaging Generation Y and Z undoubtedly requires new formats.»

This includes tax and regulatory frameworks as well as investments in research, talent, and infrastructure. A key success factor, to which we at SFI contribute, remains the outstanding qualification of the workforce.

Are Swiss banks doing enough to reach the «next generation» of clients (Millennials/Generation Y and Generation Z), or is there a need for action – and if so, where?

To credibly engage with Generation Y and Z, new formats, new channels, and above all a genuine understanding of this target group's value compass are undoubtedly required.

What is often overlooked in this context: personal security, trust, and stability are still central values for many young people. And this is exactly what Swiss banks represent. In my view, this is an excellent foundation on which to build.

Alain Krapl has been Head of Knowledge Exchange and Education and a member of the Executive Board at the Swiss Finance Institute (SFI) since February 2023. Prior to that, he served for one and a half years as Director of Knowledge Exchange. The financial expert has had a long academic career in the United States. His academic roles have taken him from the University of North Carolina at Charlotte to the University of Connecticut and finally to Northern Kentucky University, where he most recently served as a finance professor engaged in research and responsible for various executive education programs.