Interview with Dr Reto Suter - CFO Siegfried Holding AG

Deloitte: Looking back over the past 10 years, how has the finance function evolved? Were there any surprises, or any changes that happened faster or slower than expected?

Dr Reto Suter: Over the past decade, our finance function has been under considerable pressure: on one hand, this period was marked by significant corporate growth, including acquisitions; on the other hand, we had to navigate an extraordinarily dynamic environment — such as the impacts of Covid-19, rapidly rising inflation, volatile commodity prices, and even a cyber attack.

Against this backdrop, the role of the finance function has changed fundamentally: from a predominantly backward-looking reporting and control unit to a proactive and forward-looking steering and sparring partner at all levels.

Thanks to standardisation and automation, we are now able to provide reliable, forward-looking metrics quickly. This makes a substantial contribution to the strategic and tactical management of the company.

What surprised me was the speed at which new technological solutions became available. However, the necessary cultural change has progressed more slowly than expected: change management takes time.

I am particularly proud of the development of the finance team: over this challenging decade, we have built a strong, diverse and resilient finance team that has not only supported the transformation but also demonstrated professionalism, resilience, and cohesion impressively in difficult times.

Deloitte: How can the finance function help address this year’s challenges relating to the global environment, including tariffs, trade and currency volatility, and increased uncertainty?

Dr Reto Suter: In an environment marked by tariffs, trade and currency volatility, and geopolitical uncertainty, the finance function acts as both an early warning system and a stabilising anchor. We can create value by quantifying risks, developing hedging strategies, and simultaneously running scenarios so that we remain ready to act.

Transparency and credibility of figures, flexible financing structures, and credible risk management are crucial. Furthermore, the finance function can build bridges — between markets, functions, and stakeholders — to seize opportunities despite uncertainty.

Deloitte: Switzerland is once again in a zero-interest-rate environment. What impact do you think this has?

Dr Reto Suter: Zero interest rates are tempting in the short term for financing costs but carry long-term risks — such as distorted capital allocation or inflated asset prices. For us as a company, this means investment decisions must continue to be carefully assessed for capital return and strategic fit. At the same time, it increases the pressure to deploy liquidity productively and manage cash reserves professionally.

Deloitte: How do you see the long-term development of the international role of the US dollar?

Dr Reto Suter: The US dollar will maintain its dominant role in global trade in the medium term, primarily due to the depth of US capital markets and network effects.

In the long term, however, I foresee a gradual erosion of this dominance — not by a single currency but through a multipolar world order with stronger regional trade and currency blocs, also supported by technological innovations such as digital (central bank) currencies. For the finance function this means more currency diversification, and agility in planning and hedging will become the norm.