The fierce battle between asset managers for ESG talent that has played out over the past three years is abating, with recruiters pointing to the worsening economic landscape and a backlash in the us as reason for a slowdown in hiring.
Sophia Deen, associate director for investments, front office and ESG hires at Bruin Financial, said recruitment activity has cooled following a frenzied period.
“ESG hiring has slowed down this year” said Deen, citing a rush to secure talent between 2019 and 2022 as asset managers hurried to build out their ESG teams on the back of rising investor demand. “In recent months, there has been mixed media on ESH, with more claims against greenwashing and ESG fund performance, which may have created a pause for internal recruitment,” she said.