Josef Ackermann als Personality in Residence

The person behind the top manager Ackermann - The role of leadership and risk management in (today's) crisis situations

6th - 8th of May, 2024

The person behind the top manager Ackermann - The role of leadership and risk management in (today's) crisis situations

6th - 8th of May, 2024

Another illustrious alumnus returns to his academic home as Personality in Residence. The University of St. Gallen and SQUARE are delighted to welcome Josef Ackermann. During his residency at SQUARE, Ackermann will participate in both large and more intimate public events, providing valuable insights into leadership, risk management and skills for emerging leaders. This is a unique opportunity to learn from one of the leading minds in global finance and gain insights into the complex challenges and opportunities of today's business world.

About Josef Ackermann

Josef Ackermann is recognised as a fascinating and multi-faceted personality. He has a deep academic background with a PhD in Economics from the University of St. Gallen itself, which makes his return all the more meaningful. Under his leadership, Deutsche Bank became a leading global investment bank for the first time. Mr Ackermann was also Vice-Chairman of the Foundation Board of the World Economic Forum (WEF) and sat on the Board of Directors of the Zurich Insurance Group. He was also a sought-after negotiator for politicians and business leaders worldwide during turbulent times such as the financial crisis. Ackermann's time in office was characterised by strategic decisions that steered the company through complex financial markets and challenging times. His experiences and insights from this time offer valuable lessons about leadership, risk management and the dynamics of the global economy. But Ackermann's interests and expertise extend far beyond the financial sector. He is well known for his involvement in various educational and charitable organisations and has made significant contributions to the debate on ethical standards in business.

Recap

Josef Ackermann, one of the most distinguished figures in global finance, had a significant homecoming during his Residency at SQUARE, engaging with many interested students, faculty, and professionals.

Ackermann had a packed schedule, leading numerous engaging events ranging from an intimate Unplugged session to large public discussions, sharing invaluable insights into leadership, his career journey, and the essential skills for aspiring executives.

Key Highlights from the Week:

  • Cultural adaptation in leadership: Ackermann shared his experiences as the first foreign CEO of Deutsche Bank. He highlighted the cultural differences between Germany and Switzerland, where formal titles are preferred. His transformative approach shifted Deutsche Bank from a "One Culture Bank” into a unified "One Bank Culture," enhancing cooperation across divisions.
  • The value of a PhD in business: "A PhD can enhance your ability to structure thoughts and information for high-level presentations, but it's rather pointless if pursued solely for career advancement,” Josef Ackermann pointed out. He shared that diving deeply into a topic far beyond a master's degree has its merits, yet he acknowledged the current trend of people reaching CEO positions without even a high school degree.
  • Challenges and responsibilities of leading a major bank: Ackermann recounted the distressful experiences of 9/11, with Deutsche Bank's office in close proximity to the catastrophe, underscoring how it reshaped priorities within the banking sector after that. He also addressed the challenging ethical responsibilities banks face, such as climate change, amidst inconsistent global regulations.
  • Personal insights and career advice: Many lined up to meet Ackermann during his “Open Door” sessions. He engaged in numerous one-on-one and group discussions, offering career advice and personal anecdotes. He particularly noted that if you want to become an executive of a bank, starting in Investment Banking (IB) is the way to go.

This transformative week not only highlighted Josef Ackermann's legacy in financial leadership but also his commitment to nurturing future leaders!

We'd like to thank Josef Ackermann for visiting us at SQUARE, and we look forward to his return. 

north