Barend Fruithof was a top executive at Raiffeisen, Credit Suisse and Julius Baer. Now he has decided to join an industrial company, a maker of machines that sweep the roads and clear the snow off the runways. finews.com wanted to know what made him switch industry and what he thinks about the state of banking in Switzerland.

Barend Fruithof, a 50-year-old Swiss citizen with Dutch roots, has had a great career in banking. Still, he isn't your run-of-the-mill banker. As a trained farmer, he worked in the countryside and milked the famous Swiss cows, before joining the glitzy world of Paradeplatz and Bahnhofstrasse after acquiring an executive MBA.

Now, after many successful years as a manager at Raiffeisen, Credit Suisse (CS) and Julius Baer, he listened to the call of Peter Spuhler, a Swiss entrepreneur, who put train-making back on track in Switzerland with his company Stadler. He also acquired fame as a deputy for the Swiss People's Party, the right-wing nationalist grouping, which is opposed to a membership of Switzerland in the European Union.

Working With Peter Spuhler

Spuhler is also a majority shareholder of ASH Group, which has appointed Fruithof as its new chief executive officer. Fruithof was on his way to Burgdorf, in the canton of Bern, where ASH Group has a manufacturing site, when finews.com reached him for an interview.

Mister Fruithof, are you going back to your roots, joining ASH Group, a maker of agricultural machines?

I wouldn’t say so. Of course, being CEO of the group will also have a little in common with my earlier agricultural activities. My heart is at this industry. But there’s more to ASH Group than the company, which makes the Aebi machines known in Switzerland. The group is diversified and has products ranging from railway technology to cleaning and clearing machines – globally. I was attracted to taking responsibility for a globally active company.

Was it your aim to get a job outside banking after leaving Julius Baer?

I made a thorough assessment of where I wanted to go with my career. Part of it were jobs in banking that would have been of interest to me. At the same time, I had the wish to find an interesting task outside the finance industry. The position as a CEO of ASH Group was a stroke of luck. I also like that the company is held privately.

Still: You’ve been very successful in banking for more than 20 years. Why change to a completely different industry?

Being 50 years old, I’m still young enough, but at the same time experienced enough, to accept such a challenge and start something entirely new. I have achieved quite a lot in banking, as a chief financial officer, corporate clients boss and private banker.

«Banking remains a fantastic industry»

I don’t think that I would have taken the risk to switch into a different industry at a more advanced age. And it isn’t entirely unknown to me. As head of Credit Suisse’ corporate clients’ business, I had a good insight into other industries and the world of companies such as ASH Group. I always appreciated that.

Didn’t you see enough of a future in banking?

I did. There were several potential opportunities in banking for me. But the function I really would have liked wasn’t among them. Banking remains a fantastic industry with a wide range of fascinating jobs. I don’t think there is another industry where you get as close to your customer and where you can work hand-in-hand with them. But after 20 years in banking, I’m excited to open a new chapter. I felt this urge already during my time at CS, where I was working closely with many entrepreneurs. The prospect of being able to work with Peter Spuhler, the majority shareholder, also played an important role. He is an outstanding entrepreneur.

What would you say is the situation of Switzerland’s financial market, now that you’ve left it behind?

The Swiss financial market has made its homework. The great majority of banks are very well positioned. The industry has outstanding employees. If the regulatory framework remains within a reasonable level, I’m most confident that Swiss banking and the financial market will retain their great importance.

Most recently, you were a private banker and boss of relationship managers. Do you see any parallel to your new job?

Yes. ASH Group has about 500 people employed in its distribution network, who also have a close relationship with their customers. I can bring in a lot of know-how, in respect to how you treat your customers and to the service mentality. My financial background is also an important basis for the position as a CEO. I was chief financial officer at Raiffeisen Group and developed the Viseca Card Services.

It is very rare for a bank manager to change industry. Why is that?

I think there are in general only few who change industry during their professional careers. It’s not a banker phenomenon. Once you've built your knowhow within an industry, you want to take profit from it.

«Had I been a private banker all my life, I would hardly have gotten the job as CEO of ASH Group»

You can do so best in the industry you’ve gotten used to. That’s also why I have a lot of respect for my new challenge. But I’m not a banker with a typical career and moved through several stages. Had I been a private banker all my life, I would hardly have gotten the job as CEO of ASH Group.

Other bankers who leave their bank turn into investors and manage the assets of friends and family. Not an option for you?

No. I’m too fit to go into pre-retirement. It is my motivation to manage people in an entrepreneurial spirit, to motivate them with a strategy. I wouldn’t have been able to do that as an asset manager or investor.

Do you envisage going back into banking in the future?

I will primarily be busy getting to grips with the new position. There’s no time to think about another job or a return to banking. But as the saying goes: Never say never. Banking as an industry still has an allure. But I have found a task and perspective at ASH Group that really fascinates me.