Oswald J. Gruebel, the former boss of both Swiss big banks Credit Suisse and UBS, loves Formula 1 motor racing. finews.com wanted to know what he thought about the fledgling electric car racing series that will stage an event in Zurich soon.
Oswald Gruebel, will you go and watch the Formula E race in Zurich?
No. But I’ll watch it on television.
But the track is right on your doorstep?
Formula E is still relatively new. I lack a personal attachment to it. It first has to establish itself and proof that it is a sustainable event. But it is a city race and will attract a lot of spectators.
You are known as an avid fan of the traditional Formula 1 motor racing series. Is Formula E developing into a more environmentally friendly successor?
The two can’t be compared – even if you have to keep in mind that Formula 1 has been using hybrid technology for a long time. Formula 1 in its long history has reached the technological pinnacle.
«Formula E may develop something similar with the millennial generation»
Formula E, where you have to change car during the race, at the moment still has an amateurish touch.
What do you like so much about Formula 1?
In relation to motor racing, I haven’t known much else in my life. Over all the years, I developed a deep sense of attachment. With Formula E, something similar may yet come into being, for instance with the millennial generation.
And it is exactly that generation which banks want to win as customers. Sponsoring Formula E may be a clever idea?
There’s certainly an advantage in the sense that sponsoring is substantially cheaper compared with Formula 1, where you reach 500 million spectators worldwide. Locally – in the city where the event is being staged – you can certainly reach a public.
As head of UBS you were the driving force behind the Formula 1 sponsoring. Did it pay off?
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