News Detail

- 24.06.2024 - 11:03 

s/bf-HSG News June 2024

With this newsletter, we would like to inform you about current updates and developments at the Swiss Institute for Banking and Finance.

SBF-HSG News June 2024

Current News

  • Prof. Dr. Manuel Ammann assumed the position of Rector at the University of St. Gallen (HSG) on February 1, 2024. 

  • Prof. Dr. Roland Füss took over as academic director of the Master of Banking an Finance program as of February 1, 2024. 

  • Prof. Dr. Markus Schmid took on the role of the new Academic Director of the FSI on February 1, 2024, succeeding Prof. Dr. Manuel Ammann. 

  • Prof. Dr. Tereza Tykvová has been appointed to the Advisory Board of the St. Gallen Collegium and named Associate Editor of the Review Finance. Editorial Board | French Finance Association - AFFI 

  • Prof. Dr. Matthias Weber received a grant of CHF 560,000 from the Swiss National Science Foundation (SNSF) for the research project "Understanding Tax Enforcement," which investigates the application of machine learning in tax administration and preferences in tax enforcement. 

  • Prof. PhD Vesa Pursiainen was awarded CHF 450,500 by the SNSF for his research project on "Technology and Efficiency in the Financial Sector." 

  • UBS is set to become the new HSG Campus Bank, building on its existing partnership with Credit Suisse and the University of St. Gallen (HSG). This collaboration focuses on innovation, entrepreneurship, and nurturing young talent, supporting the HSG Center for Financial Services Innovation and its professorships. UBS will also offer various formats and events for students and guests at the SQUARE. Read more 

  • In collaboration with The Swiss Single Family Office Association (SFOA) and UBS, the SBF-HSG, under the leadership of Prof. Dr. Markus Schmid, has published the study "The Swiss Single Family Office Landscape." This first comprehensive study on Single Family Offices (SFOs) in Switzerland provides insights into their structures, activities, and unique characteristics, exploring how Switzerland can become more attractive to SFOs. Read the study 

  • The Annual Conference of the Swiss Society for Financial Market Research (SGF) was held on April 5, 2024, at the SIX Convention Point in Zurich and was organized for the sixth and final time by s/bf-HSG. Professors Martin Brown, Roland Füss, Vesa Pursiainen, and Markus Schmid chaired the conference. Out of 344 submitted papers, 50 outstanding contributions were selected. Starting next year, the University of Zurich will take over the organization. 

  • GPEF Award 2024, Specialization in Finance: The 2024 awardee is Dr. Jonas Romer for his thesis "Essays in Corporate Governance and ESG," supervised by Prof. Dr. Markus Schmid. 

  • Save the Date: The 6th HSG Forum for Banking & Finance 2024 on the topic "Private Markets: The New Asset Class?" will be held on November 14 at the Zunfthaus zur Saffran in Zurich. Register here 

Research Awards

  • Prof. Vesa Pursiainen, PhD, has been awarded the Foundation for the Advancement of Finnish Securities Markets Article Award 2024 for his article, “The Disutility of Stock Market Losses: Evidence From Domestic Violence.” This award recognizes outstanding research and its significance for the advancement of Finnish securities markets. The awarded article examines the negative impact of stock market losses on the incidence of domestic violence, thereby contributing significantly to understanding the social consequences of financial fluctuations. 

  • Prof. Andrea Barbon, jointly with trader Andrew Aziz and Carlo Zarattini of Imperial College London were recognized with a bronze medal for their work A Profitable Day Trading Strategy for US Markets


  • Füss, R., Lerbs, O. und Weigand, A. (2024). Do Local Governments Tax Homeowner Communities Differently? Real Estate Economics, forthcoming. 

  •  Füss, R., Chang, Z., von Möllendorf, J., Olaussen, J.O. und Weigand, A. (2023), Metro's Night Travel Offer on the Weekend and its Impact on House Prices, Transportation Research Part A: Policy and Practice, Vol. 178, December, 103883. 

  • Fidrmuc, J., Tykvová, T. (2024). Poor Industry Conditions as an External Disciplining Mechanism in Takeovers. Corporate Governance: An International Review. Forthcoming. 

  • von Meyerinck, F., Romer, J., Schmid, M. (2024). CEO Turnover and Director Reputation. Journal of Financial Economics. Forthcoming. 

  • Okat, D., Paaso, M., Pursiainen, V. (2024). Trust in Finance and Consumer Fintech Adoption. Review of Corporate Finance Studies. Forthcoming. 

  • Pursiainen, V. (2024). Inaccurate Borrowers Information and Credit Risk: Evidence from Marketplace Loans. Review of Corporate Finance Studies. Forthcoming. 

Selected Working Papers
Selected Conference Presentaions 
  • Financial Advice and Retirement Savings. D. Hoechle, S. Ruenzi, N. Schaub, M. Schmid. Conference on Ageing and Sustainable Finance, ZEW Mannheim, April 25-26, 2024.
  • Fake News in Social Networks. C. Aymanns, J. Foerster, C. Georg, M. Weber. Thurgau Experimental Economics Meeting 2024, Thurgauer Wirtschaftsinstitut, Universität Konstanz, Kreuzlingen, March 20-22, 2024.
  • Retail Customer Reactions to Private Equity Acquisitions. V. Pursiainen, T. Tykvová. Financial Management & Accounting Research Conference, Aya Napa - Zypern, June 16-18, 2024.
  • Retail Customer Reactions to Private Equity Acquisitions. V. Pursiainen, T. Tykvová. European Financial Management Association 2024 Annual Meeting, Lissabon – Portugal, June 26-29, 2024.

Executive Education

Fit for Finance Courses The renowned lecture series "Fit for Finance" will once again be offered as an intensive course in autumn 2024. After 20 years under the leadership of Prof. Dr. Manuel Ammann, the "Fit for Finance" courses will now be led by Prof. Dr. Roland Füss and Prof. Dr. Markus Schmid. These courses provide insights into the functioning of financial markets and their practical application in investment advice, financial analysis, and risk management. The course emphasizes the teaching of theoretical concepts and their practical applicability, forming an ideal basis for further certifications, particularly for the CFA®. Participation is flexible between in-person and online formats.  

Fit for Real Estate Finance This fall, the certificate course "Fit for Real Estate Finance" will be offered for the second time. Together with experienced practitioners from the Swiss real estate industry, an engaging five-day program has been developed. This continuing education course provides a broad audience with both theoretical and practical insights into the topics of real estate finance and real estate economics. Participants will learn about the functioning of real estate markets and methods for property valuation. Additionally, various forms of financing and investment strategies for the real estate market will be covered. Finally, the importance of sustainability and technological transformation for value enhancement will also be explored. The course emphasizes not only the conveyance of theoretical concepts but also their practical applicability.  

Fit for Sustainable Finance The intensive course "Fit for Sustainable Finance" will be offered for the third time in autumn 2024. Led by Prof. Dr. Markus Schmid and Prof. Dr. Martin Nerlinger, the course explains how sustainability and financial markets interact and the practical implications for banking, investment management, and risk management. The course is offered online. A one-hour online Q&A session is offered for each topic.  

Certificate Course on ESG and Sustainable Finance The "Certificate Course on ESG and Sustainable Finance" was offered for the fourth time in spring 2024 by Prof. Dr. Markus Schmid, in collaboration with ESG industry experts from Ethos, Inrate, MSCI, radicant, RepRisk, UBS, Vontobel, and ZKB. The course covers current academic findings on ESG ratings, data issues, regulation, certification, sustainable investment products and strategies, as well as the performance and impact of sustainable investments. The fifth course will take place in spring 2025. The course is offered exclusively in English and is available both as an in-person event in Zurich and online. In-person participants can enjoy networking aperitifs on each of the six course days. 

Executive Education at FSI-HSG

Successful Inauguration of the Decentralized Finance Symposium The first Decentralized Finance Symposium of the FSI-HSG brought together representatives from FINMA, industry, and academia to discuss business models and regulation of DeFi infrastructures. Read more 

SBF in the Media

  • Finanz & Wirtschaft, „Ist der Ökotrend ein gefährliches Placebo?“, May 15, 2024. 

  • St. Galler Tagblatt, „Fehlentscheidung wäre teurer“, April 18, 2024. 

  • Vuichard, F. (2024, May 25), „Teure Münzen und Noten“, Schweiz am Wochenende. Read the article (Paywall) 


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June 2024