The Ernst von Siemens Music Foundation, with its main prize, which is considered the Nobel Prize in Music, is the most important of its kind in Europe.

On January 1st she is facing a personal turning point: after twenty-six years, Michael Roßnagl will hand over the business to Björn Gottstein, the previous director of the Donaueschinger Musiktage.

Reason for a look back and a look into the future.

Jan Brachmann

Editor in the features section.

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For more than a quarter of a century you were secretary of the board of trustees of the Ernst von Siemens Music Foundation.

What did you have to bring with you to become one back then?

First: a musical education that I had enjoyed at the Munich University of Music and Theater. Second: a great deal of experience in dealing with people. Before that I was allowed to work on the opera stage, also for the German Music Council. Then I was orchestra manager, later advisor to the Stuttgart opera manager. Actually, I had wanted to become an opera director myself. But then I was brought to Munich as head of culture at Siemens AG. And when there were some problems at the Ernst von Siemens Music Foundation, I was asked whether I would trust myself to take on the position of Secretary of the Music Foundation. I then spoke to the President of the Bavarian Academy of Fine Arts, Heinz Friedrich, the former director of the German paperback publishing house. He was actually, well, a strict gentlemanbut had taken a liking to me and said: "I think we'll do that." Then it started. We were immediately able to restore a good connection between the Board of Trustees and the Board of Trustees - which had been slightly disturbed. Since then, the foundation has worked together in

worked one

direction.

In times of severe financial crises, that was not easy in economic terms either.

It really wasn't.

But even after the collapse of Lehman Brothers, we did not suffer any financial losses.

On the contrary.

The amount of our funding has increased steadily.

When I started in 1996, I had 650,000 marks available;

today we are at 3.56 million euros and an additional one-time 5.7 million for students in the pandemic.

How do you do that?

With a very good, conservative monetary policy.

The foundation depends on the result of Siemens AG.

The founder, Ernst von Siemens, contributed shares to the foundation's assets in 1972, the dividends of which flow into the foundation.

The value of stocks and their dividends have risen well over the years.

Some of the shares were even allowed to be sold so as not to create a cluster risk.

A portfolio has also been created in case no dividend is paid out.

But then the prize should still be awarded.

So even in the event of catastrophes on the stock market, precautions have been taken to ensure music funding.

Due to the high share of shares in the generation of subsidies, the foundation has also been less dependent on the low interest rate policy of the European Central Bank.