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Green Switzerland: How the ESG Wave is Reshaping Fund Admin

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Green Switzerland: How the ESG Wave is Reshaping Fund Admin

​Switzerland continues the fight for a greener future in financial services, reflected in the recent amendments to the CO2 Act, which includes measures to tackle the rise of Greenwashing.

According to Reuters, banks and financial services institutions were behind a 70% global increase in Greenwashing in 2023, spotlighting the need for tighter restrictions.

For some Swiss firms, these updates represent an unwelcome change from the regulatory norm, a shift away from their preferred method of self-regulation. Alongside the heightened scrutiny for banks deemed ‘too big to fail,’ it’s clear that regulatory pressures are mounting. You can find out more about the Federal Council’s report on banking stability here.

For others, the rapid evolution of the regulatory environment is ushering in a new era of transparency and accountability in Swiss finance, set against the backdrop of a world invested in the ESG (Environment, Social, and Governance) agenda. What does it all mean for the world’s Fund Administration and Operations jobs?

Increased Demand for ESG-Related Roles

The demand for ESG talent has skyrocketed in the last few years, mirrored by the growth of sustainable investment funds, which account for around 52% of Switzerland’s entire fund market (according to a 2023 report from Swiss Sustainable Finance).

Naturally, this has driven demand for Fund Administrators with ESG-related experience. Titles and responsibilities are evolving quickly inside this space, leading to the emergence of roles such as ESG Analyst, ESG Specialist, and Sustainable Investment Consultant.

Navigating the changing labour market will require firms to navigate prevailing skill gaps, which according to Radio Télévision Suisse, could lead to a shortage of around 431,000 people by 2040.

Between skill shortages, rising demand, regulatory evolution, and shifting role dynamics, honing in on the right finance talent is proving to be a real challenge for plenty of Swiss hiring managers. Outsourcing to full-service recruitment specialists could provide a competitive edge, particularly at a time in which talent has emerged as a key battleground.

Support from Broadgate

Here at Broadgate, we’ve had the privilege of partnering with a range of leaders across Switzerland’s finance space, and in that time, we’ve used a community-led methodology to help them navigate the pitfalls of today’s talent market.

Our specialist recruitment consultants are equipped with localised market knowledge, international networks, and community platforms to pinpoint best-in-class Fund Administration and Operation candidates in a candidate-short landscape.

Our community-led focus enables us to identify and attract hard-to-reach candidates that may otherwise be invisible (if you’re using traditional search methodologies).

The global skill shortage is poised to intensify as the rate of AI adoption increases, and alternative recruitment methodologies will be essential in securing a dependable, defensible talent pipeline.

ESG – given its inherent ties to diversity, inclusion, equity, and belonging – is a critical focus for our Swiss team. As a recently accredited B Corp, it’s our mission to partner with value-aligned businesses that share our vision of a fairer working future for all.

Whether you’re building a fund administration function from the ground up or you need to hire a head of sustainability, we’ve got you covered. Reach out to the team here to find out more: