“An incredibly high salary”: That’s how much the heads of the eastern Swiss cantonal banks earn
The Credit Suisse debacle and a bonus increase at Zürcher Kantonalbank have reignited the debate about remuneration. At the cantonal banks in Eastern Switzerland, a look at the salaries of the bosses shows that they undoubtedly earn very well, but there are no exorbitant wage increases. But there are big differences in transparency.
Thomas Koller (left), head of the Thurgauer Kantonalbank, and Christian Schmid, head of the St.Galler Kantonalbank.
There are two dozen cantonal banks in the country. Of the 26 cantons, only Appenzell Ausserrhoden and Solothurn have none. So many cantonal banks, so colorful their landscape. 21 of the 24 financial institutions have an unlimited state guarantee. 15 are public-law institutions, 9 are organized as stock corporations. Some belong 100 percent to the respective state, for example Zürcher (ZKB) or Appenzeller Kantonalbank.