The era of the grey Zurich gnomes seems to be coming to an end. On Paradeplatz, executives tend to be younger and more astute at managing people – more than just at dealing with money.

When Lukas Gaehwiler, 53, assumed responsibility as head of the Swiss business of UBS nine years ago, he was in his mid-forties. Today, as chairman of UBS Switzerland, he believes in promoting even younger managers to positions of influence and power.

«I also believe that the next CEO should be 20 to 25 years younger than my generation,» he said at a conference earlier this week. «This will require a lot of courage,» he added, referring to the appointment of someone clearly different than the traditional choice of executive at UBS.

Taking Cue From Arch-Rival

He probably didn't refer to someone below thirty for the top job at UBS Switzerland, a position that also carries the responsibility of leading 20,000 people. However, rival Credit Suisse is already paving the way for a younger generation of managers – Iqbal Khan, Lydie Hudson and Brian Chin have been promoted to the top executive committee and all three of them were born after 1975.

Over at the largest bank of Switzerland, the speculation about who eventually will succeed CEO Sergio Ermotti showed that there's a dearth of managers with the right qualifications and still plenty of years to give before reaching retirement age. Clearly, the need to find someone younger to fill the position on the executive is far from theoritical.

Not a Typical Banker

In other words, once current head of UBS Switzerland, Axel Lehmann, decides to leave, his successor will most likely diverge from the stereotype of the typical Swiss banker. Gaehwiler said he shared the views of Ermotti on who should follow in their footsteps.

«What person do you need as head of a market at UBS Switzerland with 20,000 people?» he asked. «A banker doesn't have to be a typical banker anymore to understand the business.»

First Conductor – Not a Solo Artist

Instead, the head of UBS' home market should be a person who is more of a first conductor than the solo artist. It no longer was crucial to master a specific instrument, ie a particular segment in banking.

Today, it is all about leadership competence – unlike in the past, when business know-how was the core of it all.