Swiss weekly «Weltwoche» set itself the task of livening up a long, hot summer with little juicy to report and suggested that UBS Chief Executive Sergio Ermotti should become a member of the Swiss government. More than just a light summer story?
Sergio Ermotti as a government minister and future president of Switzerland? Not something that anybody would have thought of in their wildest dreams. But René Zeller, former head of Swiss news at venerable NZZ, in the latest edition of «Weltwoche» (in German) made his case in convincing form why Ermotti would make a useful minister.
The communications department of Switzerland’s largest bank wasn’t slow to react, citing Ermotti:
«I was taken by surprise by this report as I’ve in the past already responded to similarly unrealistic speculation. I am not a politician, even as I now and again contribute to certain political discussion as a representative of business. As the CEO of UBS I have a task that I like to perform and I don’t strive to get a political role. » (translated from German by finews.com).
Business in Politics
The statement doesn’t leave any room for interpretation. Ermotti won’t be a candidate to replace Didier Burkhalter, Switzerland’s foreign minister who recently announced his resignation from the government. The Radical Party, the traditional party of business so far has had a rather narrow list of candidates for the post in the seven-member government, which may have prompted the piece of Zeller in «Weltwoche».
In past decades, it wasn’t unusual for prominent representatives of Swiss business (and indeed banks) to respond to the call of duty and to serve as a minister. Ex-Finance Minister Kaspar Villiger, who later became chairman of UBS, was one such businessman.
Peter Spuhler, the owner of Stadler Rail, a Swiss trainmaker, was repeatedly promoted as a future government minister for the right-wing People’s Party, but declined the offer and opted to remain in operative charge of his company.
