“Switzerland’s wealth managers must show that they have independent boards under new rules, and that means finding people with knowledge to do that job. And the business of finding boardroom talent is growing up on the continent and relying less on word of mouth. Zurich-based DART Talent and Executive Search talks to this news service.
As new Swiss regulations bite, wealth management groups in the Alpine state need to ensure independent representation in their boardrooms. But finding the most suitable people for these roles isn’t easy, particularly when there is a pandemic.
DART Talent and Executive Search, the Zurich-based group founded in 2009, has built a new venture to tackle the demand. It is helping firms gain a competitive edge by removing the chore of finding an independent director by providing them with access to a far deeper talent pool.
Board Owl is a platform designed to match up potential advisors with small- and medium-sized enterprises, start-ups and foundations – not purely in the financial sector but across industries.
Board Owl is an example of the kind of venture that plays to shifts in how firms obtain talent in the internet age. The group draws up a vetted list of people suitable for such positions, while firms seeking talent sign up. When certain requests/offers match up, an interview can go ahead, leading to a result. The service also benefits individuals, as many seasoned professionals seek extra-curricular opportunities to get involved in exciting ventures to which they can bring their experience and expertise.
Since the start of this year, new regulations – Financial Services Act (FinSA) and Financial Institutions Act (FinSI) – have taken effect, with full details emerging in the coming weeks. It is widely expected that asset managers with sizeable assets or with more than 10 employees will be required to prove the independence of their boards, as well as satisfy other requirements such as minimum capital and internal controls.”
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Read the full article on WealthBriefing.com here
