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The Lucerne Festival has lost its main sponsor, Sibylla and Christoph M. Müller, after 25 years of support, due to their protest against former Credit Suisse CEO Walter Kielholz remaining on the Board of Trustees. The couple withdrew their six-figure annual contribution, citing incompatibility with the festival's values. Despite this setback, the festival has secured new sponsorship from the Schwöbel family and the Jörg G. Bucherer Foundation.
The Lucerne Festival faces a funding crisis as main sponsor Sibylla and Christoph M. Müller withdraw support over the retention of Walter Kielholz on the Board of Trustees, citing his role in the Credit Suisse scandals. The festival defends Kielholz, emphasizing his contributions, while asserting its financial stability and finding a replacement sponsor.
The Lucerne Festival faces a sponsorship crisis as private sponsors Sibylla and Christoph M. Müller withdraw support over the presence of former Credit Suisse executives on the Board of Trustees. While Urs Rohner resigned, Walter Kielholz remains, prompting criticism from Müller, who emphasizes the importance of social accountability in cultural sponsorship. The Müllers plan to redirect their funding to other institutions, as the festival seeks new sponsors to replace them.
The Lucerne Festival faces a significant setback as main sponsors Christoph and Sibylla M. Müller withdraw their support over a dispute regarding former Credit Suisse executives Urs Rohner and Walter Kielholz. The couple, who have backed the festival for 25 years, demand a reevaluation of values in cultural sponsorship, citing concerns over reputation-washing. Despite Rohner's resignation, the Müllers remain firm in their decision, redirecting their funding to other institutions.
The latest rich list reveals the Safra family maintaining a stable fourth place in Switzerland with assets of CHF 22.5 billion, while the Hinduja family's wealth rose to CHF 10.5 billion amid legal troubles. Martin Ebner's assets increased to CHF 3.8 billion, bolstered by his stake in Temenos, despite a share price decline. The UBP founding family is valued at CHF 2.3 billion, with notable bank managers like Sergio Ermotti and Colm Kelleher estimated around CHF 175 million.
The latest rich list reveals the Safra family maintaining their position with assets of 22.5 billion francs, while the Hinduja family saw a rise to 10.5 billion francs amid legal troubles. Martin Ebner's wealth increased to 3.8 billion francs despite losses from Temenos, and the de Piciotto family is valued at 2.3 billion francs. Bank managers like Sergio Ermotti and Boris Collardi are estimated at around 175 million francs, with Ermotti benefiting from a substantial salary and share value at UBS.
Christian Mumenthaler, recently ousted as CEO of Swiss Re, will take over as President of the UBS Center for Economics in Society at the University of Zurich in 2025, succeeding Kaspar Villiger. His appointment raises eyebrows due to his poor track record at Swiss Re, where he failed to maintain competitiveness against Munich Re and faced criticism for his leadership style, including a lack of accountability and controversial decisions at the Geneva Association.
Walter Kielholz
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Lucerne Festival loses main sponsor amid Credit Suisse scandal
Credit Suisse High Yield Bond Fund, Inc.
B. Braun Ambulantes Herzzentrum Kassel MVZ GmbH
CHE
Urs Rohner
Walter Kielholz
11:10 17.02.2025
Lucerne Festival faces funding crisis amid board dispute and sponsor withdrawal
Credit Suisse High Yield Bond Fund, Inc.
Swiss Re AG
Hoffmann-La Roche AG
CHE
Michael Haefliger
Christoph Franz
Urs Rohner
Walter Kielholz
Thomas Schinecker
Show more
20:22 16.02.2025
lucerne festival faces sponsor withdrawal amid controversy over former cs executives
Credit Suisse High Yield Bond Fund, Inc.
B. Braun Ambulantes Herzzentrum Kassel MVZ GmbH
CHE
Urs Rohner
Michael Haefliger
Walter Kielholz
Show more
13:30 16.02.2025
dispute leads major sponsors to withdraw support from lucerne festival
B. Braun Ambulantes Herzzentrum Kassel MVZ GmbH
Swiss Re AG
DEUTSCHE LUFTHANSA
Swiss Life Holding AG
Credit Suisse High Yield Bond Fund, Inc.
Hoffmann-La Roche AG
CHE
Michael Haefliger
Markus Hongler
Urs Rohner
Walter Kielholz
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11:11 16.02.2025
wealth rankings of banking families and managers in switzerland
Swiss Franc
Bank J. Safra Sarasin AG
UBS
Temenos AG
EFG International AG
Credit Suisse High Yield Bond Fund, Inc.
CHE
IND
LIE
Boris Collardi
Josef Ackermann
Colm Kelleher
Walter Kielholz
Oswald Grübel
Sergio Ermotti
Show more
10:18 29.11.2024
banking families and managers see varied fortunes in latest wealth rankings
Swiss Franc
United States Dollar
Bank J. Safra Sarasin AG
Temenos AG
EFG International AG
UBS
Credit Suisse High Yield Bond Fund, Inc.
CHE
IND
LIE
Hans-Adam II, Prince of Liechtenstein
Prakash Hinduja
Martin Ebner
Eric Syz
Sergio Ermotti
Boris Collardi
Colm Kelleher
Oswald Grübel
Walter Kielholz
Josef Ackermann
Show more
10:18 29.11.2024
Christian Mumenthaler appointed President of UBS Center amid controversy
Swiss Franc
Swiss Re AG
UBS
Credit Suisse
CHE
Sergio Ermotti
Christian Mumenthaler
Walter Kielholz
Kaspar Villiger
Show more
08:31 27.11.2024
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