Fischer was born in Basel and studied music first there, and later in Berlin. He first came to prominence as a pianist following World War I. In 1926 he became conductor of the Lübeck Musikverein and later conducted in Munich. In 1932 he formed his own chamber orchestra, and was one of the first to be interested in presenting music of the baroque in an historically accurate way. Though his performances were very modern when compared to comparable performances today, he did conduct concertos by the likes of Bach and Wolfgang Amadeus Mozart from the keyboard, which at the time was most unusual.
In 1932 he returned once again to Berlin, succeeding Artur Schnabel in a teaching role at the Hochschule für Musik. In 1942 he moved back to Switzerland, temporarily putting his career on hold through World War II. Following the war, he began to perform again, as well as giving masterclasses in Lucerne, which were attended by a number of later prominent pianists, Alfred Brendel and Daniel Barenboim among them.
As well as solo recitals, concerto performances, and conducting orchestral works, Fischer also played chamber music. Particularly highly regarded was the piano trio he formed with the cellist Enrico Mainardi[?] and the violinist Georg Kulenkampff[?] (who was replaced by Wolfgang Schneiderhan[?] after his death).
Fischer published a number of books on teaching as well as one on the piano sonatas of Beethoven. He also made a number of recordings, including the first complete recording of Bach's Well-Tempered Clavier for EMI in the 1930s.
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