Insight Investment has hired David McNeil as head of responsible investment research, innovation and advocacy, bringing its responsible investment team to nine.
McNeil joins from Fitch Ratings where he held several positions, most recently as head of climate risk.
He will report to Robert Sawbridge, head of responsible investment at Insight Investment.
Robeco has hired David Thomas to be senior portfolio manager on the firm’s upcoming biodiversity strategy.
Thomas will work out of the firm’s Zurich office and, together with Aaron Re’em, be developing the RobecoSAM Biodiversity Equities thematic investment strategy set to launch in Q4 2022. This article 9 fund will invest in technologies, products and services that help to reduce biodiversity threats or contribute to restoring natural habitats.
“The acceleration in the loss of biodiversity poses significant risks to the global economy: $44trn – or half the world’s GDP – is dependent on nature,” Thomas said.
“The financial sector has a crucial role in helping to reduce further biodiversity loss by investing in companies that sustainably use or preserve natural capital.”
Thomas joins from Ellerston Capital, where he was a portfolio manager for multiple strategies, and has previously worked at Price Waterhouse Coopers, Macquarie Bank, Morgan Stanley and CLSA.
Mark van der Kroft, CIO fundamental and quant equity at Robeco, said: “David’s appointment marks an essential step toward launching the RobecoSAM Biodiversity Equities thematic investment strategy, an important milestone in the biodiversity roadmap we outlined earlier this year.”
Scott MacLennan (pictured right) has been named co-manager on the £3.8bn Schroder Global Sustainable Growth Fund, replacing Katherine Davidson who leaves the business.
He will also manage the Schroder Sustainable Growth and Income Fund, and the international versions of both funds.
MacLennan currently manages the Schroder ISF European Sustainable Equity Fund, but will hand this over to head of European blend Nicholette MacDonald-Brown at the end of July so he can focus on the global equity portfolios.
He will work alongside Charles Somers (pictured left), who has been co-manager on the strategy since its launch and is a senior portfolio manager on the global & thematic equity team.
The duo will work closely with the group’s active ownership and sustainable investment teams, led by Andy Howard, Schroders said.
“I am a firm believer that strong stakeholder relationships have a material impact on the long-term success of businesses,” said MacLennan. “This aligns perfectly with the approach adopted for the Global Sustainable Growth strategy. I very much look forward to working with Charles and becoming part of the global & thematic equity team.”
Former co-manager Davidson leaves Schroders to pursue another opportunity, driven in part by a lifestyle change, the group said.
“It has been a pleasure to work with such smart and dedicated people, both in the immediate team and across the firm,” said Davidson. “I am very grateful to have had the opportunity to build my career at such a well-respected company and to have been part of such an exciting period in the firm’s growth and development, particularly within sustainability.”
Robeco has recruited Aliki Rouffiac (pictured) as sustainable portfolio manager in its sustainable multi-asset solutions team.
Based in London, she will report to Colin Graham, head of multi-asset strategies and co-head of sustainable multi-asset solutions.
Rouffiac joins from Pictet, where she worked for over six-and-a-half years, and brings nearly 15 years’ experience of multi-asset and fixed income research and investing. In her previous role she was a multi-asset investment manager responsible for contributing to strategy and asset selection, portfolio management and construction, and ESG research.
Before Pictet, she worked at Nedgroup Investments for nearly four years, having started her career at Towers Watson in 2008.
The sustainable multi-asset solutions team provides European, UK and Asian clients with bespoke outcome-oriented solutions, both in an asset-only and asset-liability matching context.
It currently manages roughly €18bn (£15.3bn) in assets globally, including multi-asset funds, discretionary multi-asset solutions, and customised liability and buy-and-maintain fixed income solutions.
Graham said: “We’re thrilled to welcome a dynamic professional like Aliki, who combines many years of multi-asset experience with a deep knowledge of sustainable investing.
“Clients increasingly want their capital to deliver more than just financial returns, including protecting the world for future generations. And as we continue to lead the field of sustainable investing, Aliki joins at an exciting time to help expand our proposition.”
Rouffiac added: “I look forward to collaborating with all the talented colleagues in the multi-asset team and across Robeco. I am keen to help Robeco maintain their leading position in sustainable research and investing and improving investment outcomes for our clients.”
This article first appeared on Portfolio Adviser.
Christopher Kaminker has joined BlackRock as deputy head of sustainable investing joining from Lombard Odier.
Kaminker will be responsible for “research-driven product innovation” on a global basis. Working with the BlackRock Investment Institute and BlackRock platforms, he will also look to expand the investment solutions, capabilities and research for clients. Kaminker reports into group head of sustainable investing Paul Bodnar.
He joined Lombard Odier in 2019 and was latterly group head of sustainable investment research, strategy and stewardship. He has also previously worked at Nordic banking group Skandinaviska Enskilda Banken (SEB) and Goldman Sachs.
Meanwhile, Emily McGlynn and Benjamin Attia have also joined BlackRock’s climate and sustainability research team to focus on sustainable investing data, analytics and research.
Stuart Kirk, the HSBC Asset Management responsible investing head who was suspended by the group for publicly dismissing climate change, has resigned from his post saying his record is “unblemished”.
In a statement posted on LinkedIn today, Kirk said he was resigning as global head of responsible investing following the bank’s behaviour towards him since the comments were made at a Financial Times conference in May, which he said has made his position “unsustainable”.
He also blasted “cancel culture” and what is going on in ESG as “bonkers”.
“Investing is hard,” he said. “So is saving our planet. Opinions on both differ. But humanity’s best chance of success is open and honest debate. If companies believe in diversity and speaking up, they need to walk the talk. A cancel culture destroys wealth and progress.”
He also hinted at his next venture “to be announced later this year”.
“I’ve been gathering a crack group of like-minded individuals together to deliver what is arguably the greatest sustainable investment idea ever conceived. A whole new asset class. Sounds fanciful – but I am not one for hyperbole, as viewers of my presentation know well.
“The first project will underline the central argument in my speech: that human ingenuity can and will overcome the challenges ahead, while at the same time offering huge investment opportunities.”
Kirk also promised to “continue to prod with a sharp stick the nonsense, hypocrisy, sloppy logic and group-think inside the mainstream bubble of sustainable finance”.
Beau O’Sullivan, senior campaigner for Bank on our Future, said: “This is what accountability looks like. You can’t downplay the very real impacts of climate change and hold a senior position at an institution currently making those impacts worse through its financing decisions.
“HSBC now has everything to prove to show that it does take climate change seriously, by putting an end to its financing of fossil fuel expansion and supporting the growth of renewable energy instead.”
Kirk had been head of responsible investing at HSBC since July 2021, overseeing the asset management arm’s ESG investment and developing new products.
Kirk found notoriety in May when at a talk entitled ‘Why investors need not worry about climate risk’ at an FT Moral Money conference he dismissed concerns of rising sea levels, complained about having to spend time “looking at something that’s going to happen in 20 or 30 years” and made comparisons between climate concerns and conspiracists.
Accompanying slides to his presentation read: “Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong”.
He was suspended by the bank pending further investigations while HSBC CEO Noel Quinn distanced himself from the comments by posting on LinkedIn that they were “inconsistent with HSBC’s strategy” and “do not reflect the views of the senior leadership of HSBC or HSBC Asset Management”.
