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About Nico Schwarz

My Path Into Investment Banking
and What It Taught Me

A mix of discipline, curiosity, a few detours, and a lot of work. Here's the story that shaped how I work, learn, and teach today.

Before Uni

My First Failure

I failed my Gymnasium entrance exam in 2007, and shortly after we moved to New Jersey. My German slipped so far that I once spelled Vater with an F.

When we returned to Switzerland, I got into Gymnasium on probation. I worked through it step by step, catching up, adapting, and finding my rhythm.

Nico in the USA

Thailand

My First Fight

At 18, I booked a one-way ticket to Thailand. Three months of Muay Thai. Discipline from scratch. Training until my shins hurt, then training a little more. I stepped into a ring for the first time and won by elbow knockout.

That was the first time I realised I could push far past whatever I thought my limits were.

Muay Thai in Thailand

Luxembourg

First Corporate Job

Right after Thailand, I flew to Luxembourg for my first internship at (former) Credit Suisse. Not IB. Nothing glamorous. Projects & Solutions: printing, sorting, observing, learning.

What the job was didn't matter. What mattered was seeing what work really means. Before that, my only job had been a janitor at Phonak (Sonova) during Gymnasium summer breaks.

Luxembourg computer

Swiss Army

Officer at 19

In 2014, I became an officer in the Swiss Armed Forces at 19, leading soldiers 5 to 10 years older than me. Long days. Very short nights. And a new weight: responsibility.

That year shaped my operating system for every degree, job, and project that followed: clarity, structure, discipline.

Swiss Armed Forces officer

University

Study, Study, Study

When I started studying, I didn't even know what Investment Banking was. I'm not joking. So if you're in the same boat, don't worry, you can get there too.

I focused on doing well and being structured in how I learned, and it worked. I graduated from my UZH Banking & Finance Bachelor's with a 5.8/6.0, best of my year.

Alongside studies I was a TA in Microeconomics and Corporate Finance, and took on early roles spanning tax law, blockchain, and institutional investing.

KPMG case competition

Chile

Valuing a Football Club

With three friends, I won the KPMG International Case Competition in Switzerland and placed second globally in Kuala Lumpur. That opened the door to two KPMG internships: one in Zurich in Financial Management, and one in Deal Advisory that sent my oldest friend and me to Chile.

A completely different world, and real cross-border corporate finance. I ended up valuing a football club using a DCF. The kind of story you can't make up, and one that interviewers remembered.

KPMG Deal Advisory in Chile

First IB Interviews

Reality Check

Despite everything I'd done, IB interviews hit hard. Technical. Competitive. Well beyond anything from lectures. I didn't get the job on my first try. Nor the second or third.

None of my experiences screamed "textbook IB path." So I learned to tell my story properly, turning an unconventional background into a compelling IB narrative. That, plus hours of studying and networking, changed everything. Offers followed, and I chose UBS Zurich.

First IB interviews

This is the support I wish I'd had at this stage. Press the one that matches where you are right now:

STAGE 1

Getting Started

Applying but not hearing back.

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STAGE 2

Applications & Interviews

Interviews coming up, need to be ready.

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STAGE 3

On the Desk

Got the internship, want the offer.

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UBS Large Cap M&A

Taking on Extra Roles

At UBS I worked on high-profile transactions, like the Dufry/Autogrill merger and Arbonia's Climate Division sale. But I didn't only work on deals.

I volunteered to support recruiting, then became intern line manager and staffer for nearly three years. I built a 10-week internal training program from scratch that UBS still uses today, teaching interns the practical skills I once wished someone had taught me.

UBS mock interview day at HSG

2025

From Banker to Entrepreneur

After 10 intense years of studying, hustling, and banking, I stepped out. Not because I was tired of IB, but because I wanted to build something of my own.

I travelled, trained new martial arts (Colombian Esgrima, BJJ, Capoeira, Georgian Wrestling), rebuilt myself physically and mentally, and shared personal stories via @fightwith.nico. I later co-founded @culebracigars.ch, a cigar brand built from scratch with my oldest friend. Having my own cigar is a dream come true.

Culebra Cigars co-founder

Closing

The Gap I Once Struggled With

Then something unexpected happened. HSG invited me back to teach an MBF seminar, just five years after I sat there as a student. I recognised the same gap I once struggled with: students lacked practical IB insights.

So I developed this program. Three students signed up immediately and worked with me 1:1. All now have internships lined up. Next I reached out to Bocconi and flew there to teach in person, the same university I'd graduated from during COVID without ever attending. Surreal to walk in as the speaker.

Nico teaching at HSG

What I Do Now

Founder & Lead Instructor at NeverBanked

NeverBanked is the system I wish I'd had as a student: a bridge between theory and reality. Everything comes from real experience, mistakes, and lessons.

  • Three structured stages covering recruiting, interviews, and on-desk performance
  • Self-paced courses plus selective 1:1 coaching on CV, cover letter, pitch, and technicals
  • Frameworks calibrated to how the Swiss and European market actually hires
  • Seminars at HSG and Bocconi, built from the same material

On the side, I co-run Culebra Cigars, a brand I built from scratch with my oldest friend.

Let's Move You Forward

If you're ambitious and willing to put in the work, I can help you get there faster and more structured. Start with the stage that matches where you are.

STAGE 1

Getting Started

You're applying but not getting responses.

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STAGE 2

Applications & Interviews

You've got interviews coming up.

Explore

STAGE 3

On the Desk

You want to convert the internship.

Explore

Not sure where you stand?
Start with the free IB Starter Guide →

Questions People Ask

Did you work in HR or recruiting?
No. I was in the Investment Banking team at UBS, working on M&A deals. On the side, I volunteered to run the intern recruiting process, then became the intern line manager and staffer for nearly three years. So the recruiting view comes from inside the deal team, not from an HR function: the same people who decide who gets the offer.
Is the HSG teaching a real university course?
Yes. It's part of the Master in Banking & Finance (MBF) curriculum at the University of St. Gallen, worth 2 ECTS, with a written and an oral exam. It runs as a block seminar within the electives.
And the Bocconi seminar?
That one is a guest seminar: three to four hours of me presenting to MSc in Finance students who signed up for it. Not a graded course, but the same practical IB material.
Did you have an IB internship before your full-time offer?
No. I landed a full-time offer at UBS without a single IB internship. My background was KPMG Deal Advisory, case competitions, and a lot of self-directed prep. Part of why I built NeverBanked is that an unconventional path can still work if you position it properly.
Do you still work in banking?
No. I left UBS in 2025 to build NeverBanked full-time, alongside co-founding Culebra Cigars. What I teach comes from recent years on the desk and on the recruiting side, not from a distant past.
Why trust someone who left banking?
I didn't leave because I disliked the job. I left to pursue an entrepreneurial path, applying the skills I learned in IB and using the capital buffer I'd built up to back myself. I left as an associate who recruited candidates, staffed and trained interns, and sat in the room when return offers were decided. The insight is from the decision side of the table, and recent enough to still reflect how the market hires today.
Is NeverBanked only useful if I'm targeting Switzerland?
No. The core frameworks and skills, how recruiting works, how to position your story, technicals, networking, on-desk performance, are universal and work anywhere. Where the real edge comes in is the Swiss and European nuances: a small, opaque market that differs from the US-focused content you'll find online. If you're targeting Switzerland or Europe, that detail is where it pays off.
Where should I start?
Pick the stage that matches your situation: Stage 1 if you're applying and not hearing back, Stage 2 if you have interviews coming up, Stage 3 if you've landed the internship and want the full-time offer. If you're unsure, start with the free IB Starter Guide or reach me via the Contact page.