A well-known investment and sustainability specialist is about to be catapulted into the big league of asset management in Switzerland as country head for Blackrock, finews.com has learned.

Blackrock has found a replacement for its Swiss boss, Christian Staub, who defected to Fidelity earlier this year. The U.S. asset manager is naming Mirjam Staub-Bisang as its new CEO, several sources familiar with the matter told finews.com. A spokeswoman for Blackrock confirmed the move.

The move represents an upset victory: Staub-Bisang has run boutique Independent Capital Group together with her brother, Roman Staub, in Zurich and Geneva for more than 12 years. She is also head of a council overseeing Profond, a pension fund.

Premier Money League

But Blackrock is another league entirely: the world’s largest asset manager is also a heavyweight in Switzerland, where it has successfully tapped business with the alpine nation’s wealth sector as well as institutional investors like pension funds.

In Switzerland, Blackrock employs more than 100 staff and manages over $100 billion – and is expanding. Its Ishares exchange-traded fund business is one of the country’s largest. Blackrock’s risk management arm has also won notable clients like Credit Suisse for its analytical tool, Aladdin.

The appointment of Staub-Bisang is notable because she is the first woman to have broken into the major leagues of an industry which is still heavily male-dominated. While Swiss banking has few CEOs, asset management is slightly more diverse: Geneva-based Unigestion is run by Fiona Frick.

Sustainability Job

Staub-Bisang replaces Christian Staub (no relation) on November 1. In addition to her Swiss role, she will also be a senior adviser to Blackrock’s sustainable investing business. This makes her a key person for sustainable investing in Europe, the Middle East, and Africa. Blackrock manages $511 billion in sustainable assets.

She gave up her CEO job at Independent Capital Group earlier this year following a management buyout. The Blackrock job represents a quantum leap in her career to a far more high-profile and high-stakes role. 

Staub-Bisang is giving up her board role at Bellevue in order to take the Blackrock job. She is married to the Swiss bank’s co-founder, Martin Bisang, who has completely withdrawn from the business.

Prominent Swiss Bankers

She joins other Swiss bankers including David Blumer and Philipp Hildebrand in management at the U.S. asset manager, which is run by president and founder Larry Fink.

She joins Blackrock as asset management faces eroding margins, due in large part to growing interest in passive investment schemes. At the same time, clients and investors are clamoring for returns despite record-low interest rates.

Active managers have fought back by digitizing services and investment processes or using computerized solutions such as quantitative strategies or the use of artificial intelligence to bolster performance.