The Establishment of Global Elites with Neoliberal Mindsets? Liberal Bureaucratization in Switzerland

Switzerland’s corporate elite is marked by striking vertical disparities. This study delves into the question of whether the Swiss case provides evidence for financialization and neoliberalism. The substantial influx of foreign top executives suggests that evidence of a convergence of the global managerial elite is likely to be found. However, rather than convergence towards neoliberal principles, analyses of careers and interviews reveal the persistence of traditional elements of the Swiss corporate governance system that is shaped by organizational boundaries, cultural factors, and the persistently strong ownership concentration. In contrast, the study argues that the mindsets of Swiss corporate elites exhibit traces of ‘liberal bureaucratization’. The extent of this transformation is subject to generational changes and pragmatic adaptations of liberal mindsets that reflect the country’s distinctive trajectory among coordinated market economies.