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Adam Smith, the author of "The Wealth of Nations", argues that individuals are naturally benevolent and altruistic. However, they are also rational economic actors primarily considered with maximizing their personal utility. Triggered by the recent donation of Avaloq to the Excellence Scholarship & Opportunity Programme of ETH, this article seeks to exemplify the above thesis in contemporary society.

Adam Smith's argument frames the tensions between the possibilities of altruism in support of others and the rational economic act of seeking to maximize the personal or company's utility. They are difficult, but not impossible to reconcile. What is Avaloq’s formula to take philanthropy further?
Well, these are very high stakes, considering our partnership and philanthropic commitment to ETH. I can only speak for Avaloq and in my view philanthropy is one of the core elements in the new spirit of today’s economy. Moreover, it is considered a competitive advantage and corporate social engagement is rather perceived as self-evident. Though, the challenge is that the more companies donate, the more is expected from them, while at the same time increasing profitability and other performance indicators. In consequence, we at Avaloq have decided to be more strategic in our philanthropy and do not merely understand it as a form of short-term public relations or as one-off and ad hoc interactions. Giving does not simply emerge. The challenge for a business donor with strong affinity to Zurich and Switzerland is to find ways of appealing to different, mutually reinforcing forms of value. In my view, place identity as well as long-term interactions and in-depth relationships combine an appeal of intrinsic with 'brand' value which is key for us.

The US-American actor George Clooney has used his private funds to sponsor a satellite to monitor troop movements in South Sudan in order to help avoid another genocide in the region. Everyone can watch the movements on the website www.satsentinel.org, where the motto is clear and simple: 'The world is watching because you are watching'. Clooney turns his fame towards a good purpose and redirects the attention to something beyond himself. What was your motto behind the donation for ETH's Excellence Scholarship Program?
The ruling motto behind our engagement was: 'Leaders don't create followers; they create more leaders.' In the digital era, the price of progress is perpetual change: No one would deny that new technologies have changed - and challenged - our daily life. Therefore, education must lead the way and leaders must model the way. Universities are the seedbeds of a cultural ideal consecrated to both excellence and democracy, to citizenship and to knowledge for its own sake. ETH is a strong brand name and represents 'established knowledge' in people's minds. It creates positive beliefs and favorable attitudes and obtains public trust. I strongly believe that this form of direct corporate giving connects ETH’s excellence scholars in computer science and Avaloq to a higher quality than other forms of educational investment. Personally, as an alumnus, I feel a deeply rooted gratitude to the school and an emotional attachment to the bright talents awarded the grant.

The 2008 financial crisis and its aftermath of austerity underline the fact that some get more and more but many more get so much less. The French economist Thomas Piketty argues in his book "Capital in the 21st Century" that class boundaries are becoming more entrenched. The basic claim is that capital mechanisms not only create economic but also human progress. The market and market actors should be made the prime creators of the good society. Mr. Fernandez, why should a bright, talented and committed graduate take pride in your company?
In a Darwinian marketplace, businesses are tuned into getting a return on investment, and only the best ideas can survive. This is one interpretation of progress. It was George Bernard Shaw who said that progress is impossible without change, and that those who cannot change their minds cannot change anything. In that understanding, Avaloq has to go beyond the internal profit logic, and needs individuals who create a 'smart', thriving environment. It is also part of the employees' responsibility to shape a working atmosphere where the personnel become everything for the company. The emotional, relational and ingenious qualities of the self have to become the guiding principles of the collective organization. At Avaloq, we look for intrapreneurs who want to go the extra-mile and write history. Our corporate values are drive, nexus, rigour, courage and insights. All values represent successful entrepreneurial thinking, They also empower and develop us to independent thinkers who don't hesitate to take calculated risks and actively contribute in moving the organization forward. What new hires can be proud of is our expanded version of 'social capital' - the impact a company has on the community in which it operates. It's our way to increase the welfare of the society.

You were talking about a 'smart' environment. Moreover, the advent of the information age in a 'smart' society has created awakened shareholders, ethical consumers, critical publics, investigative media and tenacious activists. Throughout history, there have been competing visions of a 'good life'. The gospel of wealth is that hard work and perseverance again lead to wealth. However, the very fact of the near total collapse of the global economy reveals the manner of acquiring wealth. How would you as a watchful corporate citizen retain equitable wealth?
In my opinion, accountability of business is now a matter of both private and public interest. Civic engagement and community participation inevitably are of paramount importance to hold decision-makers responsible. The aroused public will need diverse and comprehensive information to work out the big picture - and thanks to new technologies, nothing really exists in isolation. 'Pro bono' means 'for the common good', and it usually refers to professionals, like lawyers, doctors, teachers, computer scientists, using their expertise for free to help analyze and reveal wrongdoings. Thus, in cosmopolitan democracies, information is the vital resource of the 21st century to empower citizenry. An enlightened and tirelessly vigilant public reflects the logic of checks and balances in democratic systems.