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HSG-CS cooperation
“Freedom of Education is at Risk”: Left-Green Criticizes Credit Suisse’s Commitment to HSG; the bourgeois parties, however, are satisfied
The big bank Credit Suisse is taking in its hands 20 million euros for a research center at the HSG. That doesn’t go well everywhere.
Credit Suisse sponsors the establishment of seven auxiliary chairs at Rosenberg.
The HSG wants to conduct state-of-the-art, practice-oriented research, with a close eye on the economy. The cooperation announced Monday with the major Credit Suisse bank fits this creed. This wants to raise 20 million francs to build mainly an innovation center in the financial sector. HSG already has similar collaborations with other companies. For example with Bosch, BMW, Hilti or SBB. The one with Credit Suisse, however, is the largest yet, as Chancellor Bernhard Ehrenzeller told the media.
In the case of privately financed chairs, the question of the independence of research and teaching arises. This is guaranteed, the representatives of HSG and Credit Suisse stressed. “The academic freedom of the HSG is fundamental,” said CS chief André Helfenstein. “I’m not indulging in the servitude of Credit Suisse,” said Manuel Ammann, the center’s designated head.
Green: “Very troublesome and risky”
However, politicians on the left are skeptical. “The SP is extremely critical of the CS’s engagement at the University of St. Gallen,” says parliamentary group leader Bettina Surber.
Bettina Surber, president of the parliamentary group SP St. Gallen.
“Freedom of education is a valuable asset and if a large bank has its own center at the university, we see it at risk.”
Ultimately, the past has shown that strong links between the university and the private sector are problematic. In view of current global problems, “especially climate change and the risks of a pandemic”, the will to rethink current economic structures is needed, and the University of St. Gallen is also in demand. “The commitment of the largest CS bank is not exactly the right signal.”
Meinrad Gschwend, Chairman of the St. Gallen Greens Parliamentary Group.
Meinrad Gschwend, chairman of the Parliamentary group The Greens, is heading in the same direction. “The reputation of the University of St. Gallen has been damaged by the scandals and affairs of recent years.” The fact that one is partnering with Credit Suisse right now is “very troublesome and risky.” The Greensill scandal in Germany alone, “likely to cost CS and its clients billions,” does not shed a good light on this deal, according to Gschwend. He also sees the freedom of education at risk:
“It can be assumed that the investigation will be carried out when it is in the interest of the financier in terms of maximizing profits.”
Furthermore, with such partnerships, HSG is doing everything in its power to maintain a financial system that is demonstrably responsible for ecological misery. “A missed opportunity,” says Gschwend.
FDP: “Cooperation improves self-financing”
The reactions in the bourgeois camp are completely different. The FDP welcomes Credit Suisse’s commitment to the HSG, says party chairman Raphael Frei:
Raphael Frei, President of the St. Gallen FDP.
“It improves self-financing and contributes significantly to strengthening and expanding the existing network between the university and the private sector.”
The University of St. Gallen has a self-financing rate of around 50 percent. This means that half of your expenses are covered by grants from research institutions, partnerships with individuals, tuition fees, or continuing education income. Compared to other Swiss universities, which, however, have a wider range of courses, the share of core state funding in the HSG is low. The canton of St. Gallen also pays relatively little for its university (see charts).
The freedom of research and teaching is guaranteed by contractual agreements, as well as Frei. With an expansion in the financial sector, the university is strengthening one of its core areas. “Programs in this area enjoy the highest rankings in the world.”
Patrick Dürr, President of the St. Gallen CVP.
Patrick Dürr, president of St.Gallen CVP, is also not concerned about the academic independence of the university. If they meet the requirements of the University Law and the internal “basic principles of self-financing”, the freedom of research and teaching is not in danger.
“The University of St. Gallen has been forging strategic partnerships with businesses for years.”
The connection between research and practice is important. The HSG must maintain and develop its excellence. “After the corona pandemic, economic and financial problems will be of great importance.”
