The sustainability business of Credit Suisse is being restructured and the bank has now appointed an experienced manager to further develop the ESG concept of the bank.

The impact advisory and finance unit at Switzerland’s second-largest bank has seen significant change in recent months. Marisa Drew, the head of the business, reorganized her staff and Anja Hochberg, an experienced manager, left as a consequence of this process.

Now, Drew has appointed Daniel Wild as manager responsible for the environment, social and governance strategy, Credit Suisse said on Friday. Wild will join the bank later this year. He currently works as co-CEO at RobecoSAM, the sustainable investment expert.

Developing ESG

Wild will move into a newly created position in the rank of managing director, Credit Suisse said. He will further develop the ESG concept of the Zurich-based company and develop products and services compliant with the standards set.

The demand from clients for ESG-standard products has increased strongly since the end of 2017, when Drew took office. The criteria set by the ESG strategy are increasingly used as a basis for investment products and services.

With the appointment of Wild as head of ESG, Drew gets a direct link to Zurich. She works from the London offices of Credit Suisse and since the reorganization in January, her links to Zurich had become less pronounced. Investments experts based in Zurich had instead reported to Michael Strobaek, the chief investment officer of Credit Suisse.

Source : finews.com