Why Mike Baur Left The Swiss Banking Industry Behind

Mike Baur is a former Swiss banker. He grew up with a strong interest in banking and the finance industry in general. He made his start in this industry when he was just 16 years old. It was at this age that he started at UBS Group AG as an apprentice. When he joined this private banking firm a person from human resources took him aside and showed him a chart they have developed which outlined how his career would go if he stayed with UBS Group from that point through retirement age.

His career followed this chart pretty closely up until he joined a select group which was focused on attracting the business of the richest people in Switzerland and beyond. He did exceedingly well until 2008 when the global economy collapsed. The Swiss government had to save UBS Group to keep it from collapsing. Its parent firm, Credit Suisse, began to pull back its expansion plans and focused on just keeping the bank alive let alone growing. Mike Baur decided at that point to make his exit from this bank and join one which was healthier which was Clariden Leu.

Mike Baur spent the next six years of his career at this bank. However, the banking industry dramatically changed during this time. He grew disillusioned as more and more government red tape was applied to every type of financial transaction. At the same time, he started to become fascinated by the tech industries startup culture. He finally had enough with the banking industry and so he left his job in it behind, despite earning a really high salary, so that he could be a part of helping entrepreneurs in the tech industry get their businesses off the ground. Shortly after he left Clariden Leu ended up going out of business.

Now in the tech industry, Mike Baur co-founded Swiss Startup Factory. His company helps people through the earliest stages of building a company in the tech industry with a main focus on those who develop mobile apps. He says the key thing for anybody looking to start a new company is to learn that failure is part and parcel of the process. The key, he says, is to analyze what went wrong and then get back up and give it another go. Over time, after failing enough, you learn what it takes to found a successful company and it is at that point that you find success.

 

1 thought on “Why Mike Baur Left The Swiss Banking Industry Behind”

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