To that end, Hans in accounting is also getting a little too pushy with the “Was this prostitute really necessary? Is this threesome going to help Q4 revenue?” line of questioning.

Zurich’s red-light district is dimming. Bankers who have been core patrons of the city’s sex industry and cabarets are curbing spending. The venues of Langstrasse — or long street — are closing, replaced by hipster bars, techno clubs and even a backpackers’ hostel. Like the finance industry, the sex trade has opted for a lower profile. “Times have changed,” said Kevin Joliat, the manager of the Petit Prince nightclub in central Zurich. “Bankers really have to show who the client was, why they spent the money and was it really necessary,” said Joliat, who once worked at Zuercher Kantonalbank, Switzerland’s largest state-owned bank. The decline of erotic entertainment highlights a changing culture in Zurich as banking jobs ebb and public opinion turns against inflated bonuses. That and smaller budgets for entertaining customers have deprived the clubs and bars of a key customer base. Bank rules on expenses have become stricter, said Balz Stueckelberger, head of the Employers Association of Banks in Switzerland, which is based in Basel. “People use a more targeted approach now, with more processes and rules,” he said. “Nightclubs don’t feature in those.” [...] Bankers — who once ordered a la carte, drank wine, cognac or grappa and tipped generously — now often opt for mineral water and set-price menus, said Sepp Wimmer, who runs the Zunfthaus zur Waag restaurant, about 50 meters from Paradeplatz, the heart of Zurich’s banking district. “People go all-out less than before,” he said.

Red-Light District Dims as Zurich Bankers Curb Spending [Bloomberg]

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Comments (6)

  1. Posted by mailroom anlyst | August 29, 2014 at 1:04 PM

    a la carte is usually cheaper than set priced menus. They are usually tasting menus with optional wine paring.

  2. Posted by Jimmy | August 29, 2014 at 1:40 PM

    "is that wrong" Mike Stewart said I could have one sizzz kick

  3. Posted by Silver Belles | August 29, 2014 at 3:24 PM

    The Swiss are strange. My sister got a 250 Swiss franc fine for walking around her apartment in high heels after 8 pm. Apparently Zurich has quiet hours.

  4. Posted by JJ Minihann | August 29, 2014 at 8:27 PM

    First they change the bank secrecy laws , but this is going too far

  5. Posted by Guest | August 30, 2014 at 4:29 PM

    Are we supposed to believe she got 250 swiss franc just for walking around her apartment in high heels? Also, it's spelled fee, not fine.

  6. Posted by JoeMomma | September 2, 2014 at 12:55 PM

    Take a lap and think things over before you make a complete disgrace of yourself