Tabea Eckardt has been working in executive search at BiermannNeff since 2018. Together with Klaus Biermann, she handles searches in sales, marketing, and portfolio management across the DACH region. We spoke with both about the key drivers in the financial sector for 2025 and how these trends impact companies' recruiting activities.
Tabea, what are the core drivers for the financial sector in 2025?
Tabea Eckardt: I think there are currently four central drivers for the financial industry:
- Growth in private markets: Investments in private markets such as private equity, private debt, and infrastructure are continuing to rise. Investors are increasingly seeking returns outside of the volatile public markets.
- Dominance of passive strategies: The success of passive investment vehicles like ETFs is putting enormous pressure on traditional active fund management. This trend forces asset managers to clearly define their added value, offer specialized niche strategies, or adopt hybrid approaches.
- Increasing regulation: Stricter requirements in areas like ESG reporting, transparency, and investor protection demand significant investments in compliance and reporting systems.
- Advances in AI and digitization: Artificial intelligence is becoming more prominent in the financial sector, from analyzing large datasets to automating trading and administrative processes. AI-driven decision-making enables more precise risk analysis and optimized portfolio strategies.
And what does this mean for the financial sector?
Tabea Eckardt: The financial industry will undergo many changes in 2025, possibly more than we currently anticipate. The rising investments in private markets, with their higher return potential, are largely positive. However, the pressure from passive strategies on active fund management and the growing regulatory burden present significant challenges. Market participants who adapt agilely to these trends and offer innovative solutions, including through AI, will be positioned for long-term success.
Klaus, what do you see as the major HR trends for 2025 in recruiting?
Klaus Biermann: On the one hand, we see that many candidates are aiming to transition from traditional asset management into the private markets sector. This trend will likely intensify in the coming years. The challenge will be finding candidates with existing experience in this area. On a positive note, personality and attitude are becoming increasingly important factors in selecting the right candidates.
What’s happening with the return-to-office trend?
Tabea Eckardt: We’re closely watching how many companies are encouraging employees to return to the office and developing new models for flexible work. Whether this will impact the job market remains to be seen. Employees may seek out more flexible employers, or it could become harder to attract potential candidates.
We also observe that flexibility and other soft factors are playing a growing role. While the financial sector is still an industry with very high salaries, companies must remain competitive not just in pay but also in benefits. Employers offering below-market salaries or limited benefits will find it much harder to attract strong candidates.
Is there a change in the focus on hiring women? Do you expect companies to explicitly seek women for leadership roles more or less frequently in the financial industry?
Klaus Biermann: Efforts to achieve gender diversity remain strong, and there’s often a significant desire to hire women in the financial sector. However, in the end, qualifications, personality, and cultural fit prevail. Statements like “We absolutely want to hire a woman” have become less frequent, which reflects a growing awareness—a major success of recent years. Last year, we saw women in leadership positions being replaced by men, but this is part of a normal cycle; the reverse also happens. What we don’t need is an exaggerated or forced focus on women. The approach has become more natural, which is a good thing! Companies often underestimate the importance of long-term pipeline management, especially for women. Short-term hiring driven by headcount needs doesn’t align well with the more medium- to long-term career planning of women.
What should women aiming for leadership do to ensure they’re seen and ultimately promoted?
Tabea Eckardt: It’s crucial for women to actively build their network and manage their pipeline. Women shouldn’t mimic a stereotypically male style but should be bolder in networking and testing their market value and opportunities. Women also need to be engaged in the industry earlier, and networks and sparring partners can support them along their career paths. Programs like those offered by Fondsfrauen are invaluable. Men are often more confident in promoting themselves and positioning their skills, so I encourage all women to believe in themselves and to take part in conversations and interviews—even when they’re not actively looking to switch jobs. Staying in the conversation is key!
What skills or competencies are currently sought in leaders?
Tabea Eckardt: The expectations for leaders are much higher and more diverse than just a few years ago. Leaders need to be role models, authentic, honest, and ethical. They must be willing to take responsibility while also adapting to external conditions. Of course, the technical qualifications must always be in place.
What about people below the leadership level—on the middle management level?
Klaus Biermann:Here too, companies are looking for employees who fit well culturally and inspire their teams with a strong sense of collaboration. Corporate cultures can vary widely, so there isn’t one universal trait that applies to everyone. It’s about understanding which environment suits you. We often help candidates figure out where they might fit. Additionally, technical skills are often essential, but this depends heavily on the specific role. Many early resignations within the first twelve months could be avoided if candidates were more authentic during the application process and clearer about their own requirements and preferences. Women, by the way, tend to have a more honest and accurate sense of this than men.
How sensitive will companies be to diversity in 2025?
Tabea Eckardt: The industry is generally very aware of diversity issues, though there’s always room for deeper integration over time. I don’t foresee diversity gaining even more significance in 2025. Larger organizations are already taking significant steps to support various groups—whether women, people of different genders, or LGBTQ+ individuals. Smaller, national companies tend to lag behind, with less sensitivity and understanding regarding diversity. It’s also important to remember that diversity isn’t just about gender but also age, social background, and other factors. While many companies consider themselves diverse, this isn’t always reflected in practice.
In the U.S., diversity, equity, and inclusion (DEI) and sustainability seem to be on the decline, with the emergence of anti-woke funds. Do you anticipate a similar trend in Europe, or is the situation different here?
Klaus Biermann: The U.S. experienced faster progress in diversity efforts, which have now reached a peak and are beginning to retreat in some areas. I predict a similar, albeit delayed, trend in Europe.
Tabea Eckardt: In the sustainability space, we already see declining demand. I don’t believe anti-woke funds will take hold in Europe, but I do think efforts and investments in areas like DEI may decrease. Europe’s regulatory environment, however, is different from the U.S., which will likely favor continued progress in diversity.
What does this mean for women pursuing careers in Europe’s financial sector?
Tabea Eckardt: Women still have excellent opportunities for career development and often find modern, attractive work environments—though there are exceptions. The decline of the “woke movement” likely won’t have direct consequences for women. However, issues like returning to the office disproportionately affect women, especially those with children. Reduced flexibility can hinder career advancement, as does the lack of part-time roles at the leadership level. Job-sharing roles are rare and often dismissed with the argument that “one person needs to make decisions,” which overlooks the potential benefits.
Tabea, what advice would you give to women looking to make a career change in 2025? Where should they focus, and what should they do?
Tabea Eckardt: First, think about what you truly want. There’s no point chasing a trend in hiring if it doesn’t align with your personality or aspirations. Consider, “What do I want, and in what environment will I thrive?” It doesn’t have to be a perfect fit, but if the role suits you 70–80%, that’s great! We often help people identify their fit and assess where there’s potential. Anyone considering a change should keep their LinkedIn profile up to date and stay in touch with their network, as well as with headhunters. Courage is also essential. If you’re unhappy and don’t make a change, you can’t complain!
Thank you both for this insightful look into the recruitment landscape in the financial sector!
Anke Dembowski is a financial journalist and author of various investment fund-related and other financial books. She is also a co-founder of the "Fondsfrauen" network.