"Raiffeisen Switzerland will probably hire fewer people" – the economy

Kurt Sidler, how do you estimate the sudden departure of Patrick Gisele?

If love falls somewhere, it stops it. I have no problem with that. It's a shame that Patrick Gisele's departure had to be done this way.

The following call damage is not affected, because raiffeisen does not communicate how much money Gisel still gets?

I do not know how much he still receives. Only he does not get severance payments.

When do you expect the appointment of a new Raiffeisen boss?

I expect this to happen by the end of the year. But I do not know which candidates are in the race.

They chair, along with newly elected President Gui Lachappelle, the Working Group on Reforms. What's next?

Now we have to form a board that runs the business. Owners themselves, i.e. Banks Raiffeisen, sitting in the commission itself. There are several interest groups thinking about the reform – and they will be there. Associations will send representatives. And, of course, the board of directors of Raiffeisen Switzerland will also send a deputy. Overall, the committee is expected to have about ten members.

And most are Raiffeisen banks?

Raiffeisen banks will definitely have the majority.

What is the cornerstone of the reform?

This will surely be a new principle introduced "one bank, one vote", ie each Raiffeisen Bank will be able to send a representative in the future. Moreover, the jurisdictions of Raiffeisen Switzerland are transferred back to the regions or Raiffeisen banks themselves. Examples can be marketing or product selection. This will give Raiffeisen banks more autonomy in investment products.

Does Raiffeisen Switzerland continue to speak only in strategy?

No, there are considerations how the influence of Raiffeisen banks on a group strategy can be extended. Among other things, the creation of a new Cooperation Council is being considered, which should influence the strategic discussion.

If Raiffeisen Switzerland quits, will there be less staff there too?

At the end of the process, it is likely that Raiffeisen Switzerland will employ fewer people than before.

What happens to the properties of Raiffeisen Switzerland, which were bought under Pieria Vincenz – such as those of Leontek's financial firm?

Here, the new board of directors must compile a list of investments that make a strategic sense and which does not. We at the base were not happy that Raiffeisen Switzerland used so many accumulations. What is specifically sold, we expect suggestions.

According to Bruno Gehrig's report, some of the investments were over-purchased. Does Raiffeisen need to resort to unhappy leaders?

For this first we need to know the final report by Bruno Gehrig. But I do not exclude civil action.

Raiffeisen needs everything better: on Saturday, Gui Lachappelle was elected head of the Board of Directors. Together with Kurt Sidler, chairman of the Coordination Group of Regional Associations, he will reform the bank. The most important questions are how much the corporate headquarters should have in the future, and who will succeed Patrick Gisele, who on Friday had to emphasize his main function because of a delicate love affair within the company.

(Editors Tamedia)

Created: 11.11.2018, 23:07 hours