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Zurich is full of «frustrated bankers». Is frustration a good motivator for a job or career change?

Zimmermann: First I’d note that the level of frustration among bankers is lower than it was. Frustration isn’t ideal as a motivator. But then again, why would a banker who is completely satisfied in his or her job move?

You both mentioned risk tolerance as a factor for employees. What about the risk companies are taking in hiring an industry greenhorn?

Peterhans: I believe that’s missing in banking and many other industries. They’re looking for everything but the kitchen sink, which can hamper the potential to bring new impetus and outside knowledge into a company. Firms limit their own opportunities when they try to eliminate risks in their hiring practices.

«Crypto is growing while finance has been shrinking for ten years»

Zimmermann: You cannot forget that employment in finance in Switzerland has dropped an average 0.6 percent for the last nine years. It’s logical that firms seek out very specific profiles and expertise against that backdrop.

We’ve seen a wave of bankers head for cryptocurrency projects.

Zimmermann: That’s natural. Cryptocurrency needs finance and IT know-how and the industry is growing, while Swiss banking has been shrinking since its peak in 2007.

What kind of banker is an appealing hire for the cryptocurrency industry?

Zimmermann: It’s mainly investment bankers. They tend to be more flexible and open to new business models than other their counterparts elsewhere in banking.

Do you have a lot of search mandates from crypto providers? 

Zimmermann: It’s actually the other way around: we’re frequently asked by banks to find management- and board-level talent with digital skills.

Click here to read the first part of finews.asia's interview with Stephan Peterhans, a former HSBC banker who now works for a mid-sized industrial firm in Zurich's countryside, and Robert Zimmermann, a Goldman Sachs banker turned headhunter.