Current events / News
HSG Fintech Summit 2025: Inspiring Insights. The first HSG Fintech Summit in St.Gallen brought together researchers, investors and industry leaders for a day of cutting-edge presentations on AI, DeFi, cryptocurrencies and payment transactions.
We are delighted to announce the establishment of the Centre of Competence for Sustainable Finance and Private Wealth (CCSP-HSG) as a new addition to the activities of the HSG. The CCSP-HSG will be based at the SBF. We warmly welcome our new colleague Dr. Falko Paetzold. He will be the new managing director of the centre from 1 August.
On 29 October, the 7th HSG Forum for Banking & Finance took place once again at the traditional Zunfthaus zur Saffran under the theme of "Artificial Intelligence in Finance". The event attracted numerous guests and renowned panellists from academia, business and practice, and provided a unique platform for discussion on the opportunities and challenges of artificial intelligence in the financial sector. In cooperation with the Center for Financial Services Innovation (FSI-HSG), the forum offers unique expertise and was organised this year by Prof. Dr. Tereza Tykvová and Prof. Dr. Matthias Weber, to whom we extend our sincere thanks.
Prof. Dr. Roland Füss initiated a successful, oversubscribed first round of the new Real Estate Certificate (REC) programme. He succeeded in establishing partnerships with Senn and PSP Swiss Property, two leading players in the Swiss real estate market. Thanks to the support of these corporate partners, the REC can now also award scholarships to students.
In the "Who's Who 2025" of "Immobilien Business", the exclusive industry directory of the Swiss real estate industry, Prof. Dr. Roland Füss was named one of the leading personalities in the Swiss real estate industry. Proof of his influence.
The conference "Building Culture and Returns" was successfully held on 12 November 2025 at the SQUARE of the University of St. Gallen. The fifth annual conference of the Swiss Building Culture Foundation, in partnership with the Swiss Institute of Banking and Finance at the University of St. Gallen, offered more than 200 interested parties and experts from the construction and real estate industries a platform to discuss the success factor of building culture from different perspectives – both in terms of private returns and social returns. Prof. Roland Füss was responsible for the organisation.
Prof. Dr. Stefan Weik was awarded the prestigious "Fürther Ludwig Erhard Prize" for his dissertation entitled ‘Essays on Finance and Entrepreneurship in a Global Venture Capital Landscape’ (2025).
On 11 November, the Sustainable Value Creation Report 2025 was successfully launched under the direction of Prof. Dr. Martin Nerlinger. The report presents over 100 key figures on sustainable value creation from more than 1,000 companies in 40 countries and highlights key opportunities and risks. See media release HSG.
Research
Publications
- Hoechle, D., Ruenzi, S., Schaub, N., & Schmid, M. (2025). Financial Advice and Retirement Savings. Review of Finance, forthcoming.
- Füss, R., Kürschner Rauck, K., & Weigand, A. (2025). Residential rent externalities of photovoltaic systems: The relevance of view. Regional Science and Urban Economics, 104138.
- Kürschner Rauck, K., & Kvasnicka, M. (2025). Immigration and Housing Rents: Short‐Run Effects of the 2015 Refugee Crisis in Germany. Journal of Regional Science, 65(5), 1269–1302.
- Brändle, A., Füss, R., Schläpfer, J., & Weigand, A. (2025). The Low-Carbon Rent Premium of Residential Buildings. Journal of Real Estate Research, May 2025.
- Lampe, I. & Weber, M. (2025). Prospect Theory for Intertemporal Choice. Journal of the European Economic Association, forthcoming.
- Martinez, S.-K., Pompeo, M., Sheremeta, R., Vakhitov, V., Weber, M., & Zaika, N. (2025). Civilian Evacuation During War: Evidence from Ukraine. Economic Journal, forthcoming.
- Cirulli, A., De Nard, G., Traut, J., & Walker, P. S. (2025, January 21). Low Risk, High Variability: Practical Guide for Portfolio Construction, forthcoming.
- Glossner, S., Matos, P., Ramelli, S., & Wagner, A. F. (2025). Do Institutional Investors Stabilise Equity Markets in Crisis Periods? Evidence from COVID-19. Management Science, 71(10), 8097–8993.
- Nerlinger, M., Rohleder, M., Wilkens, M., & Zink, J. (2025). What drives sustainable institutional engagement and voting behaviour? Financial Review.
Selected working papers
- Graf, S., Heim, N., Stadelmann, M., & Trütsch, T. (2025). Swiss Payment Monitor 2025 – How does Switzerland pay? (Issue 2/2025 – Survey May 2025). University of St.Gallen / Zurich University of Applied Sciences.
- Trütsch, T. (2025). Cashless future – reality or fiction? Journal of Financial Services.
- Trütsch, T. (2025). How AI agents are revolutionising payment behaviour.
- Netzwoche.
- Barbon, A. (2025). ChatGPT in Systematic Investing – Enhancing Risk-Adjusted Returns with LLMs.
- Adler, K., Doerr, S., & Zhu, S. (2025). Passive Investors and Loan Spreads.
- Füss, R., Morkoetter, S., Rainsborough, D., & Tykvová, T. (2025). Pricing, Returns and Value Creation in Buyouts. sfi Working Paper, University of St. Gallen. October 2025.
Selected conference presentations
- Schmid, M. Financial Advice and Retirement Savings. Annual Meeting of the European Finance Association (EFA), Paris, France, August 2025.
- Barbon, A. DeFi-ying the Fed? Monetary Policy Transmission to Stablecoin Rates. The Future of Payments—CBDC, Digital Assets and Digital Capital Markets, Bocconi University, Milan, Italy, September 2025.
- Adler, K., & Mitkov, Y. Does Common Ownership Affect Competition? Third Aarhus Workshop on Strategic Interaction in Corporate Finance, Aarhus, Denmark, August 2025.
- Braun, R., Jenkinson, T., & Weik, S. Jensen LBOs. 2025 Private Equity Research Symposium (PERC), Chapel Hill, USA, November 2025.
- Tykvová, T., & Faverzani, L. Information Leakage and the Bidding Process in LBOs. FINEST Workshop, Milan, Italy, October 2025.
- Barbon, A., Milliet, C., & Weber, M. The Disposition Effect in the NFT Market. Annual Congress of the Swiss Society of Economics and Statistics, Zurich, Switzerland, June 2025.
- Ceccarelli, M., Ramelli, S., Vasileva, A., & Wagner, A. F. Socially Responsible Investing in the Political Context. Annual Meeting of the European Finance Association (EFA), Paris, France, August 2025.
Executive Education
The SBF-HSG offers high-quality continuing education courses in collaboration with the Centre for Financial Services Innovation.
We offer a wide variety of areas and topics and are continuously expanding our range of continuing education courses.
Our courses
New courses
- Certificate course Fit for Sustainable Real Estate. This course provides in-depth knowledge of sustainable financing and investment strategies in the real estate sector, with a focus on ESG criteria, climate risks and regulatory requirements. Participants discover how innovative approaches such as green buildings, PropTech solutions and nature-based solutions influence property value. The course combines sound theory with practical case studies and enables participants to implement future-oriented strategies in a dynamic, sustainability-driven property market. Course start: 6 May 2026.
SBF in the Media
