Canary Wharfian
Administrator
- Jul
- 81
- 1
Staff member
Lorettz shares his career journey across banking and consulting, starting with an international education in economics and strategy (University of Sussex, Stanford exchange, and a Master’s in Strategy & International Management from the University of St. Gallen). He began his career at Credit Suisse in Zurich in wealth management before moving into the bank’s wind-down (bad bank) division, where he spent four years working on complex, legally intensive projects aimed at reducing risk-weighted assets and offboarding unwanted clients and portfolios.
In the wind-down division, his work was highly project-based and investigative, involving regulators, lawyers, and governments to resolve problematic client situations. The role differed significantly from traditional investment banking (M&A, ECM, DCM) in that it focused on risk reduction rather than revenue generation, with more standard compensation and lower bonuses.
After the UBS–Credit Suisse merger announcement, Lorettz moved to Accenture Strategy & Consulting, joining the capital markets advisory practice in Zurich as a senior consultant. There, he worked on a wide range of high-intensity projects, particularly in distress and turnaround situations, including:
Lorettz eventually left Accenture due to rigid promotion structures and internal politics, joining a 10-person boutique firm, RE Consulting (REM Consulting) in Zurich. The firm focuses on turnaround, transformation, and distressed situations in financial services. He emphasizes the benefits of boutique consulting: entrepreneurial culture, strong client exposure, merit-based recognition, and minimal internal politics.
Finally, he discusses AI’s impact on banking and consulting, viewing it as a significant threat to junior consulting roles and repetitive analytical work. While senior, judgment-based roles will remain, AI is likely to shrink team sizes, automate grunt work, and push consulting toward outcome-based pricing rather than hourly billing.
Overall, the episode offers an inside look at non-traditional investment banking roles, consulting under pressure, career trade-offs, and how AI is reshaping professional services.
In the wind-down division, his work was highly project-based and investigative, involving regulators, lawyers, and governments to resolve problematic client situations. The role differed significantly from traditional investment banking (M&A, ECM, DCM) in that it focused on risk reduction rather than revenue generation, with more standard compensation and lower bonuses.
After the UBS–Credit Suisse merger announcement, Lorettz moved to Accenture Strategy & Consulting, joining the capital markets advisory practice in Zurich as a senior consultant. There, he worked on a wide range of high-intensity projects, particularly in distress and turnaround situations, including:
- Post-merger integration and target operating models
- Client and asset migration strategies
- Agile transformations
- Large-scale fund integrations
- Crisis recovery and “firefighting” roles on failing projects
Lorettz eventually left Accenture due to rigid promotion structures and internal politics, joining a 10-person boutique firm, RE Consulting (REM Consulting) in Zurich. The firm focuses on turnaround, transformation, and distressed situations in financial services. He emphasizes the benefits of boutique consulting: entrepreneurial culture, strong client exposure, merit-based recognition, and minimal internal politics.
Finally, he discusses AI’s impact on banking and consulting, viewing it as a significant threat to junior consulting roles and repetitive analytical work. While senior, judgment-based roles will remain, AI is likely to shrink team sizes, automate grunt work, and push consulting toward outcome-based pricing rather than hourly billing.
Overall, the episode offers an inside look at non-traditional investment banking roles, consulting under pressure, career trade-offs, and how AI is reshaping professional services.