Banking elites and the transformation of capitalism in Switzerland: A prosopographic analysis (1890–2020)

Abstract

Swiss capitalism has changed over time, adopting elements of the coordinated market economy and liberal market economy during specific historical periods. Taking the case of the Swiss banking sector, this article aims to demonstrate how these changes in structure also result in the transformation of the profiles of banking elites. Relying on a prosopography of 301 top bankers distributed among seven benchmark years (1890, 1910, 1937, 1957, 1980, 2000, and 2020), we show continuities and discontinuities in the main resources needed to hold a career as an elite banker in Switzerland at distinct times of capitalism. Our results show a long-term persistence of family capitalism among private banks, the erosion of national institutions such as vocational training and the militia army, and the different forms of internationalisation in the careers of bankers, following waves of globalisation and deglobalisation.