Peter Wuffli, CEO of the swiss bank UBS, is joining the tradition of the rich philantrops and entrepreneurs. The swiss newspaper NZZ calls this "Richesse oblige". It means taking responsability for the wealth in your hands and give back something to the world.
According to the NZZ of the December 28 2006, Peter Wuffli has founded with his wife Susanna a new foundation called "Elea Foundation for Ethics in Globalization". The foundation has a starting capital of 20 Mio. CHF reports the NZZ.
The objectives sound ambitious*:
-foster awareness of the interdependence which results from globalization and help develop an ethical approach of it;
- foster awareness about global change processes,
-in Switzerlandd: foster knowledge about economic developments in a time of globalization
-in Switzerlandd: foster knowledge about economic developments in a time of globalization
-abroad: help victims of globalization to open up new perspectives and fight poverty caused by effects globalization
"Richesse obliges" is well established conviction among the older generation of rich people in Switzerland says the NZZ, but acknolewdges to Wuffli that he is one of the first younger managers to adopt this motto.
Wikipedia quotes Wuffli as: "A company is only as ethical as its people".
It seems that UBS is taking ethics more seriously as of today. To be continued...
(*this is quoted and translated from the NZZ by me, therefore it might not be 100% accurate...however, I did not find a website with an official version yet)
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