In this column, authors comment on economic and financial topics.

Over the past decade, the financial services industry has undergone profound transformation, driven by digitalization, automation, and regulatory reform.

Despite these technological advances, the industry continues to face structural challenges that cannot be solved by technology alone: declining trust, rising client expectations, and growing pressure to credibly demonstrate long-term value creation.

The Human Factor Returns to The Center

These dynamics have sharpened the focus on a more human-centered model of finance—one that places experience, trust, and the ethical responsibility of professionals at the heart of financial decision-making.

Human-centered finance does not mean abandoning sound economic principles. Instead, it reflects the recognition that the value of financial services is co-created through relationships.

«Hospitality professionals are trained to deliver excellent service under uncertainty.»

This perspective is gaining traction in regulatory frameworks, customer experience strategies, and competency requirements across banking, asset management, and sustainable finance.

Remaining Composed in Times of Crisis

This is where hospitality comes into play. Degree programs in hospitality management convey a distinctive combination of rigorous business fundamentals and advanced social skills that extend far beyond the hospitality sector. At the technical level, these programs are deeply rooted in finance, accounting, economics, operations management, and strategy.

The real differentiator, however, lies in human capabilities. Hospitality professionals are trained to deliver outstanding service under uncertainty, manage emotionally charged situations, resolve conflicts constructively, and operate confidently in multicultural environments.

Decades of service research show that empathy, reliability, and responsiveness are key drivers of perceived value and trust. These capabilities are not industry-specific; they are increasingly scarce strategic assets in client-facing financial roles.

Recent Deloitte research confirms that communication skills, emotional intelligence, and ethical judgment now rank among the most critical competencies for future finance professionals—on par with technical expertise.

The Ties Between Hospitality And Finance

Hospitality and finance are more closely connected than commonly assumed. Both are experience-based, trust-dependent industries where long-term relationships matter more than one-off transactions. In hospitality, loyalty is built through consistent service quality and emotional connection. In finance, client retention similarly rests on perceived competence, transparency, and relational continuity.

This parallel is particularly evident in wealth management. Switzerland remains the world’s leading hub for cross-border wealth management, overseeing more than CHF 2.2 trillion in foreign assets (Swiss Bankers Association, 2024).

«Trust and advisory quality—not product innovation—are the decisive competitive factors.»

According to the same report, trust and advisory quality, rather than product innovation, are the key differentiators. As routine processes become increasingly automated, human interaction gains in value—mirroring the logic of luxury hospitality, where experience defines the brand.

McKinsey & Company likewise identifies customer experience as one of the strongest growth drivers in private banking, ahead of pricing and product breadth.

Technical Excellence Alone is no Longer Sufficient

For early-career professionals in finance, the implications are clear. Technical excellence remains necessary, but it is no longer sufficient on its own. Career trajectories increasingly reward those who combine analytical rigor with communication skills, judgment, and integrity.

Continuous learning, intellectual curiosity, and the ability to explain complex issues clearly are becoming ever more important. According to the PwC Global Workforce Hopes and Fears Survey 2024, trust in employers and leadership correlates strongly with perceived ethical behavior and transparency—factors that are particularly critical for advancement in regulated industries such as finance.

In an environment of heightened public scrutiny, personal reputation becomes a cumulative asset, strengthened over time through ethical consistency, reliability, and client-focused commitment

High-Quality Advice is Indispensable

Human-centered skills are gaining importance precisely because technology now handles much of the technical workload. AI systems can optimize portfolios and process quantitative data, but they cannot interpret human values, moderate emotional responses to risk, or provide reassurance in times of uncertainty. As a result, advice becomes a fundamentally relational process, where listening, empathy, and ethical judgment are indispensable.

Behavioral economics research confirms that trust and emotional alignment materially influence financial decisions, especially under uncertainty. In this context, hospitality-based competencies are not a supplement—they are a core component of effective advisory work.

What Modern Financial Leadership Means

Beyond individual roles, the financial industry urgently needs leaders defined by integrity, service orientation, and long-term thinking. Reputation crises over recent decades have demonstrated how quickly governance failures and short-termism can destroy institutional value.

«Modern financial leadership means aligning performance with responsibility and innovation with trust.»

Swiss regulation reflects this reality. FINMA explicitly identifies conduct risk, governance quality, and reputation as systemic challenges and has continuously tightened its requirements for corporate governance and ethical leadership (FINMA Circular 2017/1; updated guidance 2023). Modern financial leadership means aligning performance with responsibility and innovation with trust.

From an economic perspective, long-term value creation is also compelling. Research by the McKinsey Global Institute (2022) shows that companies with a long-term strategic orientation significantly outperform peers in revenue growth, earnings stability, and resilience. The hospitality education’s emphasis on service ethics and reputation management aligns closely with these leadership demands.

More Credible, More Resilient, More Sustainable

Human-centered finance does not mean making financial services «softer.» It means making them more credible, more resilient, and more sustainable. As financial products become increasingly interchangeable, competitive advantage shifts toward human experience, ethical judgment, and relationship quality.

In this environment, the competencies cultivated in hospitality—empathy, service excellence, integrity, and long-term orientation—are no longer peripheral. They are central to the future of finance. Institutions and professionals who understand this shift will be best positioned to rebuild trust and create sustainable value in a rapidly evolving financial system.

Adam Aoun is Assistant Professor of Accounting at EHL Hospitality Business School. His areas of expertise include financial accounting, management accounting, corporate governance, auditing, mergers and acquisitions, corporate finance, and hotel asset management.

• Read all contributions from our guest writers.