Financial Study Tour 2015 to Switzerland

By Stephanie Blättler, Research Associate at the Institute of Financial Services Zug IFZ

Recognizing the growing importance of global economic cooperation, the Financial Study Tour 2015 offered the chance for students from all over the world to participate in a cultural and economic exchange. The Financial Study Tour of the Institute of Financial Services IFZ was executed for the first time from 8 to 11 April 2015 in Switzerland. A group of Turkish and Belgian students with graduate students from the International Financial Management program took advantage of the unique opportunity to learn about the world of finance in Switzerland. With a mix of company visits, sightseeing and a cultural exchange a diverse program was offered to 20 students.

The trip started with a welcome dinner at the IFZ where the students were explained the coming days. Some curious questions about Switzerland and its characteristics could already be clarified on this occasion.

Thursday morning started with a lecture held by Mick Geerts, Senior Financial Analyst at Johnson & Johnson. He introduced the participants to the concept of supply chain finance, an often overlooked topic in academic programs. By breaking J&J’s supply chain down into the pillars Source, Make, Plan & Deliver the participant gained theoretical and practical insights into the world of supply chain finance.

After a lunch with some sightseeing in the City of Zug, the afternoon was designed by Siemens Building Technologies. Achim Schäpper, Head Operational Marketing, welcomed the students at the Visitor Center and gave an insight into the history and current activities of Siemens Building Technologies. The presentation by David Gisler, recruiting and student managers, was about career opportunities at Siemens BT which was of big interest for the students. Also Ivo Gerig, Head Controlling, was able to inspire with his lecture about Management Control at Siemens. The tour afterwards through the factory was the first time for many students to get an insight into a highly automated production. Finally, an impressive fire demonstration in the laboratory which showed the benefit of various Siemens products complemented the afternoon.

The following day, a lecture about the Swiss National Bank was held in Zurich. Adriel Jost, Economist at the SNB, described the tasks and challenges of the SNB’s monetary policy as an independent central bank of the country. Especially the recent events as the discontinuation of the minimum exchange rate against the euro and the introduction of negative interest rates attracted great interest. The decision to abandon the currency ceiling finally had a direct impact on the wallets of those students with origin in the euro zone and their expenditure for the Study Tour. In the afternoon, the students enjoyed a city tour through Zurich which showed itself from its best thanks to the good weather.

Finally, a trip to the Queen of the Mountains, Mount Rigi, is not to be missed. At Mount Rigi Nicolas Bürkler, Lucerne University, held an interactive lecture about Switzerland in the economic environment of the euro zone, the importance of the possible exit of Greece from the euro zone and other current macroeconomic relations.

A dinner with the best panoramic view and an overnight stay in a soothing mountain air at Rigi Maison completed the Financial Study Tour 2015. With a suitcase full of new experiences, the group set off home again the following day.