Buyer’s Remorse Hits Finance Bosses Who ‘Overhired’ for ESG (2)

There’s a course-correction underway among financial firms that went all out on ESG hiring just a few years back, according to recruiters advising banks and money managers.

Firms have had to acknowledge that the goal of generating the highest profits often “isn’t aligned with the social and environmental aspirations of the types of people they hired,” says Tom Strelczak, a London-based partner focused on sustainability at Madison Hunt, where he oversees the firm’s European business.

After having “overhired in a very evangelical and philosophical way,” many financial companies are now avoiding some of the ESG (environmental, social and governance) ...