Majedie Asset Management has hired Aberdeen Standard Investment’s head of ESG, clients and products as its new head of responsible capitalism.
Cindy Rose joins the group on 27 August in this newly created role as the company seeks to build its sustainable investing credentials. Majedie first adopted its responsible capitalism approach at its 2012 client conference, then called its ESG ethos.
“Active equity management requires active stewardship and responsible capitalism is in our DNA,” said Rob Harris, chief executive of Majedie Asset Management. “ESG issues have financial implications; they do not exist in a vacuum.
“We set out our approach to ESG issues at business launch and have continued to develop our capability ever since. Majedie’s holistic and integrated approach means we do not separate ESG from financial performance indicators.”
Majedie is a tier one signatory of the Financial Reporting Council’s Stewardship Code and a signatory to the UN-backed Principles for Responsible Investment. Harris said that investing in resources that support a longer-term perspective makes sound financial sense.
“A longer-term perspective that is fair to employees, shareholders, customers, regulators and the wider community is more sustainable and eventually more valuable to shareholders. To us, this is responsible capitalism,” he said.
“With Cindy’s appointment we are further strengthening this commitment. She has tremendous expertise and a great track record.”
The company has grown from a little known boutique at its launch in 2002 to a mid-tier player with assets under management totalling some £12.5 billion. The company manages equities for institutional investors, wealth managers and endowments, among others.