Asset managers slow hiring of stewardship and engagement staff

Tightening labour markets

Asset managers with an aggregate £39trn in assets under management have slowed hiring of stewardship and engagement staff as labour markets tighten, according to a study.

Research by investment consultant Redington has found that the number of asset managers hiring dedicated stewardship and engagement staff has fallen sharply over the past year. In the last twelve months, only 34% of managers surveyed added to their specialist teams, compared to almost 80% in 2022. The study also found that 45% of managers have no staff at all dedicated to stewardship and engagement. NZAOA criticises 'cumbersome' stewardship efforts of asset managers Despite stagnant year-on-year growth, 80% of managers now have a dedicated ESG and sustainable headcount overall. Thi...