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With a profit of 942 million francs, Martin Scholl completed his last year as head of the ZKB. He is retiring this summer.
Friends describe the outgoing ZKB boss as inconspicuous, also somewhat conservative. A principled man. Evil voices say he’s boring, no teaser, seems stuffy like a civil servant. Possibly this restraint is Martin Scholl’s recipe for success. While UBS and CS get caught up in scandals on a regular basis, ZKB and Martin Scholl rarely make headlines.
In an interview with SRF News, he says: “ZKB is in an excellent position, has a rock-solid, very good corporate culture and that is the basis for our success.” The main contributors to the record result were the strong growth in income in the commission and service business, but ultimately also the solid interest business, which increased last year – despite the negative interest environment and pressure on margins.
Grown steadily and profitably
Since then, unlike the two big banks, Zürcher Kantonalbank has grown steadily and profitably. It did not write losses, paid out record-high bonuses to managers, nor did it have to be supported by taxpayers.
The bank regularly distributed high dividends for the canton and municipalities. This year it is a record 431 million Swiss francs. In the last ten years, the ZKB has distributed over four billion francs to the canton and municipalities: “It needs a good culture,” says Scholl. “Employees who care what happens to their bank, and you have to understand the trade and you can’t be sad if you don’t generate headlines. Banking is best when it’s dead boring, from the customer’s point of view.”
On the way with the moped
Shortly before the financial crisis, Martin Scholl took over the reins of the Zürcher Kantonalbank in 2007. He came as the successor to the busy Hans Vögeli. Vögeli accepted massive risks for the bank and ultimately stumbled upon an insider deal. After the Vögeli era, ZKB’s reputation was on the rocks.
Martin Scholl is from a different breed. He began his apprenticeship at the Zurich State Bank 40 years ago. That was in Zurich Wipkingen, he remembers, driving from Geroldswil to the bank with his souped-up Puch Maxi every day. Martin Scholl has been a member of the ZKB general management for 20 years, its chairman for 15 years and looks back with good feelings on a long and successful career. He does not want to reveal what his plans are for the future. However, he does let it be known that he has no problem with no longer being a person of public interest.