2. Konrad Hummler
For a time, Konrad Hummler was akin to the conscience of Swiss wealth management: the successful «banquier privé» in the traditional sense of the term relished showing up larger, crisis-stricken rivals with Wegelin, one of Switzerland's oldest wealth managers. But Hummler misjudged the determination of American prosecutors to get to the bottom of Switzerland's offshore accounts – and the lost American tax dollars stowed in them.
Wegelin went under in 2011 after an indictment by U.S. officials; its non-toxic book was carved out into a new bank, Notenstein (since sold to Vontobel). Hummler's public standing suffered dramatically: the 65-year-old was eventually forced to leave the board of «Neue Zuercher Zeitung,» Switzerland's leading opinion-making newspaper.
The quirky Swiss banker – he once penned an ode to napping in «NZZ» (in German) – retreated to economic and political commentary in a newsletter published via his consulting firm, M1, in his native St. Gallen. Now 65, the Swiss banker-elder statesman returned to banking this year, when a non-compete with Notenstein lapsed, as chairman of Zurich's Private Client Bank, or PCB. Hummler also oversees a foundation devoted to performances of Bach's complete vocal oeuvre, and oversees the Hotel Krone in Appenzell.
