This has not been an easy year for the Swiss stock exchange operator SIX as several planned IPOs fell through, says Chairman Thomas Wellauer in an interview with finews.tv. The invasion of Ukraine represents a turning point. He also wishes Credit Suisse better luck.
For Thomas Wellauer, the outbreak of war in Ukraine marked a turning point, highlighting the difference between an authoritarian regime and liberal democracies of the West, the Chairman of the Board of Directors of the Swiss stock exchange operator SIX Group tells finews.tv in an interview.
Asked to look back to February and share his thoughts on Russia's invasion of Ukraine, he replied, «I was stunned. I could not believe it. You could indeed see the signs. But I simply couldn't imagine that I would see another war in Europe in my lifetime,» Wellauer says. «This aggression has brought immeasurable suffering to the people affected by it.»
If there is anything positive to look for in the war, he said, it is that people around the world are realizing again what the value of freedom is. «Ukrainians are fighting for their freedom with an incredible will. That is quite impressive,» he said.
(in German)
Eight Chinese Firms Listed
For the SIX, 2022 was not a bad year, but not a good one either. There were four IPOs in the main business, one IPO in the new Sparks segment, a new exchange for SMEs, and eight Chinese company listings of Global Repository Receipts (GDRs).
Although «this is within the long-term average, many announced IPOs did not take place because the uncertainty was so great,» admits Wellauer. However, he emphasizes in the interview that over 20 startups will participate in the Sparks IPO Academy to prepare for an IPO.
Financial and Economic Links
Credit Suisse, for which Wellauer also worked two decades ago, also made numerous headlines in 2022. Asked if he is happy he no longer works there, he responded that he would not go so far as to say that, and always threw himself into the job and gave it his best. Looking at his current job he says «I couldn't imagine a more exciting one.»
As a tech company, SIX Group is central to both the financial center and the economy. «We are the backbone and link for the financial industry and the real economy.»
Good Luck, Credit Suisse
Wellauer acknowledges that Credit Suisse is in a difficult position, and although it is tackling its problems, it will take some time before it is successful. «But I am confident. A little luck is sometimes needed in the process.»
Next year, SIX plans to distinguish itself with new innovative products. «We are doing very well with the SDX digital exchange and our ESG products,» Wellauer explains. He also referred to UBS, which was the world's first bank to issue a digital bond, as reported by finews.com. «As far as I know, we are the first fully regulated digital exchange ever to do something like this.»
Targeting Growth Abroad
The SIX Chairman confirmed the exchange operator needs to continue to grow, especially abroad, to compete internationally. «We are constantly evaluating and will certainly look closely at opportunities. As a platform business, we need to continue to grow. But we also have the confidence to grow organically,» Wellauer said.
Looking ahead to 2023, the environment will remain difficult for the time being with the electricity crisis not yet over, and the worrisome geopolitical situation. «The world has to find solutions on how to deal with each other.
Living Better as an Optimist
We will all suffer from this for the time being,» Wellauer says, but remains confident. «I live better as an optimist than a pessimist. That's why I'm also convinced that we will find a way.»
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