ESG Clarity brings readers the latest hires and people moves in the responsible investment industry
Ex-HSBC GAM boss takes Edentree CEO role
2 September 2020
Former HSBC Global Asset Management UK boss Andy Clark has landed at responsible asset manager Edentree Investment Management where he will take over as chief executive from Sue Round.
Clark exited HSBC Gam in March after eight years as chief executive of its UK fund arm amid an ongoing reshuffle of its senior management team and was replaced internally by Stuart White.
In his new role Clark will lead UK-based Edentree on its “next phase of growth as it seeks to expand its influence in the responsible and sustainable investment space,” a statement announcing his appointment said.
He takes the reins from acting chief executive Round from 14 September. Round will remain at the business, continuing as its deputy chairman and lead manager on the £115.8m Amity UK fund, which she launched in 1988.
Following his appointment Clark will also join the group management board of Ecclesiastical Insurance, Edentree’s parent company.
Ecclesiastical Insurance CEO Mark Hews said Clark was “the stand-out candidate to take on the baton” from Round and “embrace the future opportunities available to the business”.
Under Clark’s guidance HSBC Gam UK’s business grew its market share by expanding its external distribution channels and client partnerships, which helped it to become one of the top 10 asset managers from 2017 onwards, the press release said.
Prior to becoming the firm’s UK funds boss Clark was head of EMEA wholesale business. He was also previously DWS Investments’ CEO and head of retail distribution and worked as a UK sales director for Fidelity International.
Clark said he was proud to be joining Edentree which has been “leading the market in responsible and sustainable investing for more than 30 years” and has “set a strong growth mandate”.
He added: “What was immediately obvious to me was the strong culture at Edentree of existing to contribute to the greater good of society. Not just in terms of investment strategy but also in its unique charitable ownership structure. This leads to a proven authenticity, which clients want to see from their investment manager.”
PAM hires HSBC GAM multi-asset manager for SRI funds
17 August 2020
Pacific Asset Management (PAM) has hired Will Thomson from HSBC Global Asset Management (HSBC GAM) as a portfolio manager within the team responsible for the firm’s multi-asset SRI funds.
Reporting to PAM chief investment officer William Bartleet, Thompson will work on the SRI Cautious Growth and SRI Balanced Growth portfolios, alongside five other specialists.
At HSBC GAM, Thompson worked as senior portfolio manager on the multi-asset team from 2014, and was responsible for running HSBC Multi-Asset Sustainable, HSBC World Selection and HSBC Global Strategy funds. His career has also included stints as an intern analyst at the Bank of England and as analyst for Asset Risk Consultants.
Matthew Lamb, CEO of Pacific Asset Management, commented on the appointment:
“Pacific Asset Management continues to evolve into a truly sustainable fund management company, not just in terms of the funds we offer, but also how we conduct our business and engage with others.
“We believe that in years to come all investment will be sustainable without the need for separate ESG buckets and we want to be at the forefront of how that is implemented.
“Will brings huge experience of ESG multi-asset investing and will build on the very strong track record of our existing SRI funds, offering institutional-quality ESG investment management to the retail market.”
New joiner Thompson added: “I am very excited to join the team at Pacific. The entrepreneurial nature of the business and the huge support available to the investment managers makes this a unique opportunity to develop the suite of SRI multi-asset funds to meet the needs of different risk profiles, but also to help with the adoption of a more integrated approach to ESG throughout the business.”
GIG adds three to strengthen ESG practices
14 August 2020
Macquarie’s Green Investment Group (GIG) has recruited three industry figures to add to its responsible investment team expertise.
Professor David Viner has joined to lead the green impact advisory team. He will be responsible for developing the advisory team’s services, which provides methodology for best practise impact disclosure. It is used by all GIG investment teams and is now available for third-parties.
Vina has 25 years’ experience in climate science and is the lead author for the IPCC’s Working Group 2 Sixth Assessment Report and the IPCC’s Special report on Climate Change and Land use.
Meanwhile, Chris Morrison has joined to lead GIG’s distributed energy and energy technology activities in Europe. He will work alongside Edward Northam, GIG’s European head, and Greg Callman, GIG’s global head of energy technologies on the department’s initiatives including storage and e-mobility in the European market. Morrison was previously at Vitol, where he ran the UK energy storage business.
Thirdly, GIG has hired Ole Bigum Nielsen (pictured) to lead the business’ asset creation and management team, as well as oversee GIG’s global offshore wind project delivery activities. He was formerly CEO of Vattenfall Vindkraft and joins GIG from Statkfraft where he was responsible for the delivery of the company’s development and construction projects.
Edward Northam, head of GIG Europe, said: “These new appointments not only strengthen the depth of expertise at GIG, but also highlight the increasing breadth of activity that we are pursuing. From pioneering green impact reporting, to project development and the creation of commercial solutions for cutting edge technologies, GIG continues to evolve its offering to meet the needs of this fast-moving market. David, Chris and Ole bring a wealth of experience in their respective fields and their appointments will ensure GIG remains a driving force of the green transition.”
Federated Hermes expands impact team with double hire
23 July 2020
Federated Hermes has made two new hires to its Impact Opportunities team from Jupiter Asset Management and Titan Capital Management, in response to increasing demand for sustainable investment solutions.
Amélie Thévenet will join the team from Jupiter in September and will be a director, with a view to becoming a co-manager on the Federated Hermes Impact Opportunities fund in due course.
Jordan Patel joins in July from Titan Capital as senior analyst. Both will be based on London and report to Ingrid Kukuljan, head of impact investing.
See also: – Federated Hermes CEO: ‘Society has realised there are things we value more than money’
Thévenet will be responsible for making investment decisions and work closely with Kukuljan and co-manager Martin Todd to pick stocks for the fund. She previously worked together with Kukuljan at Jupiter, where she spent 13 years in total, latterly as a global emerging market equities manager.
Patel’s role will be to provide company-specific and thematic research which will include the analysis of SDG-related themes for incorporation into investment appraisals. He was an equity analyst at Titan for three years.
Eoin Murray, head of investment at the international business of Federated Hermes, said: “Demand for sustainable investing has been on the rise and we have seen this accelerated further as the pandemic has put the need for sustainable solutions under the spotlight.
“The addition of Amélie and Jordan to the Impact team firmly bolsters what is an already heavy-weight franchise. Their core beliefs of finding impactful companies to generate long-term wealth is highly aligned with that of our clients and prospects and I am excited to see what this team is able to achieve with this added firepower.”
Morningstar promotes Bioy to director of sustainability research
21 July 2020
Hortense Bioy has been promoted to Morningstar’s director of sustainability research for Europe, the Middle East and Africa (EMEA) and Asia Pacific (APAC) regions.
Bioy, who is also editorial panellist for ESG Clarity, most recently served as Morningstar’s director of passive strategies and sustainability research, Europe.
In her new role, she will be responsible for driving the group’s sustainability research across EMEA and APAC. The firm said it created this role to reflect its growing commitment to ESG research including the recently completed acquisition of Sustainalytics.
Bioy is based in London and will report to Jeffrey Ptak, head of manager of research. He said: “Given Hortense’s passion for ESG and our ambitions in this area, we felt now was a logical time to fully dedicate her to sustainability research. We’re excited about Hortense helping us to further advance our goal of imprinting ‘investors first’ values on sustainable investing through insightful analysis and thought leadership in her new role.”
JPMAM hires Amundi veteran for Japan stewardship role
21 July 2020
JP Morgan Asset Management (JPMAM) has appointed Shizuko Ohmi as head of investment stewardship for Japan.
She joins following a 17-year stint at Amundi Japan where she was head of equity research and strategy, and most recently head of the group’s ESG department since its inception in 2015. During this time, JPMAM said she has actively led engagement with Japanese companies on sustaibaility issues, with a focus on climate change and diversity.
Ohmi has also previously been a member of Japan’s Ministry of Trade and Industry working group where she formed guidance on climate risk disclosure to ensure compliance with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, and worked with Japan’s Cabinet Office to research women’s advancement.
In her new role with JPMAM, she will be based in Tokyo reporting to Jennifer Wu, global head of sustainable investing.
Wu said: “Ohmi-san has extensive expertise from more than 20 years as an equity research analyst, much of it covering industries such as chemicals, textiles and oil exploration and refineries. With a dedicated focus on ESG since 2015, she brings impressive technical and analytical knowledge together with a dedicated focus on sustainability and corporate governance.”
Gresham House recruits sustainable investment director
14 July 2020
Gresham House has hired Rebecca Craddock-Taylor in the newly-created role of director of sustainable investment, reports Portfolio Adviser.
Craddock-Taylor (pictured) will develop and integrate the company’s sustainable investment policies across its strategic equity and real assets products.
She joins from Univest where she was an ESG strategist, developing the company’s sustainability framework across its investment approach. Prior to this, she was an investment consultant and responsible investment adviser at pensions consultancy Hymans Robertson, where she helped clients develop and enhance their responsible investment and ESG approach.
In March, Gresham House announced a five-year strategy, GH25, to become a recognised leader in sustainable investment. The company’s investment process is aligned to the UN Sustainability Development Goals (SDGs) and it is a signatory of the Principles of Responsible Investment.
In the past year, the company has established a sustainable investing committee which ensures sustainable investment policies are ingrained across each stage of the investment process and across stakeholder groups.
Gresham House chief executive Tony Dalwood said: “We’re delighted to welcome Rebecca to the senior team at a time when Gresham House is taking meaningful steps to ensure that sustainable investing is embedded across the business.”
Craddock-Taylor said: “Gresham House has an authentic commitment to sustainability and I am excited to be joining the firm at a time when environmental and social factors have been shown to have such a profound effect on our economic systems.
“My dedication to sustainability will ensure I support Gresham House’s plans to become a leader in sustainable investment. I thoroughly look forward to taking our current approach into the next phase of development.”
Rathbones hires duo for Greenbank Investments
14 July 2020
Rathbone Greenbank Investments has made two hires to its ethical, sustainable and impact investment team.
Sophie Lawrence joins Greenbank’s in-house research team as a senior researcher, responsible for assessing the social and environmental performance of investments as well as conducting bespoke ESG and impact reporting for clients. She will also managfe engagement activities on topics such as climate change and healthy food.
Previously, Lawrence worked at Barclays Bank and most recently at KKS Advisors, where she specialised in sustainable investment.
Meanwhile, David Nicholsby has joined the investment team as an investment manager specialising in managing ethical portfolios on behalf of private clients, trusts and charities. He previously worked at Courtiers Asset Management where he was responsible for researching global equities, developing equity screening models, monitoring collective investment funds and managing Courtiers’ ethical strategy.
John David, head of Rathbone Greenbank Investments, commented: “Sophie and David both share our ambition to facilitate deeper, long-term human, business, and institutional change through investing in organisations that are consistent with a low-carbon, healthy and equitable society.
“They join us at a pivotal time, as we continue to push the frontier in ethical, sustainable and impact investment forward. Our vision is to become the natural home for investors seeking to align their investments with the change they want to see in the world.”
Aegon AM adds to responsible investment team
6 July 2020
Aegon Asset Management (Aegon AM) has made some changes to its responsible investment (RI) team including two new hires.
Miranda Beacham has been promoted to senior responsible investment manager, having previously co-founded the UK RI team. She has worked at Kames Capital, soone to become Aegon AM, in 1995. Working with the Edinburgh-based team, she will support ESG research and solutions for the group’s equity investment platform, but primarily lead stewardship activities in the UK.
Meanwhile, Aegon AM has hired Retno Kusumaningtyas as a senior responsible investment associate, based in The Hague to work on ESG and impact research for the firm’s fixed income investment platform, as well as supporting the new ESG partnership with ABN AMRO. Kusumaningtyas joins from consultancy firm Profundo Research and Advice.
Both Beacham and Kusumaningtyas will report to Brunno Maradei, global head of responsible investment.
| Also joining the Edinburgh office, Georgina Laird has been recruited into the role of sustainable investment analyst, reporting to Beacham. Her responsibilities include monitoring and analysing ESG factors within the company’s Global Sustainable Equity strategy. She previously worked within Kames Capital’s ESG research team in 2017, before moving to Australia where she worked at Uniting Ethical Investors as ethics and impact manager. Maradei said: “Miranda’s expertise has played a key role in the evolution of our responsible investment capabilities, including the development of our ethical strategies, engaging and voting on our active equity positions, driving ESG integration across investment processes and the development of our Global Sustainable Equity strategy. “Both Retno and Georgina are experienced responsible investment specialists with wide-reaching skills and knowledge. We are delighted to have Georgina back and to welcome Retno to the Aegon Asset Management team.” |
Polar emerging market team boosts ESG credentials with Newton hire
6 July 2020
Polar Capital has hired Newton fund manager Naomi Waistell to boost its Emerging Market Stars team’s ESG credentials after its shift from Nordea Asset Management in 2018.
Waistell spent 10 years at Newton Investment Management, most recently as a fund manager in the emerging market and Asian equities team with a focus on ESG.
She has become co-manager on the £91.3m Polar Capital Emerging Market Stars fund, launched in July 2018, reporting directly to Jorry Nøddekær who joined Polar in June 2018 along with a three-strong team from Nordea Asset Management.
Chelsea Financial Services managing director Darius McDermott said the Emerging Market Stars team has always had ESG in its process but was previously fed centrally from Nordea’s ESG team. “They don’t have that at Polar and hence the addition to the team,” he added.
At Newton, Waistell co-chaired several investment theme groups and was part of the firm’s sustainable investor group.
She began her career as an associate at Praefinium Partners Investment Management in 2007 before moving to the financial consultancy arm of the Capita Group in 2009.
Polar Capital chief executive Gavin Rochussen said Waistell’s appointment “will provide additional depth and experience to the Emerging Market Stars team”.
“Her fundamental focus on ESG is core to the team’s philosophy and makes her a perfect fit for Polar Capital,” he added. “Her investment approach is fully aligned with that of Jorry and the team, complementing their strategy.”
Waistell said: “I strongly believe in the team’s investment approach and principles and am looking forward to bringing my experience and knowledge of responsible investing to the business.”
Capital Group names Schroders’ Jessica Ground as global head of ESG
19 June 2020
Capital Group has named Jessica Ground as global head of ESG, a day after it was announced she is leaving Schroders after 20 years.
Ground (pictured) will join Capital Group’s London office in September and be responsible for incorporating its ESG approach into the investment process globally. She will work with teams across investment groups, distribution, marketing and technology.
On Wednesday Schroders announced Ground, who has been with the firm since 1997, was leaving her role as global head of stewardship to “take the next step in her career”. Head of sustainable research Andy Howard has been promoted to global head of sustainable investment.
At Schroders, Ground was responsible for leading a team of ESG analysts and corporate governance specialists integrating ESG across geographies and asset classes. During her two decades at the firm, she worked as a fund manager on the UK equity team and as a research analyst covering financials and utilities.
Ground is also chair of the Investment Association’s stewardship committee and board member of the Investor Forum.
Capital Group vice chairman Rob Lovelace said: “We’re delighted to appoint someone of Jessica’s calibre and experience to work with our teams to further integrate ESG at Capital Group. ESG is an area of great strategic importance for us and our clients, and we will continue to invest resources to it.”
Ground added: “Investors increasingly place ESG considerations as a top priority to inform their investment decisions. I look forward to working alongside the experienced Capital Group team to further integrate ESG factors into the firm’s investment process and deliver services that align with clients’ growing expectations.”
McSherry joins Neuberger Berman ESG team
18 June 2020
Neuberger Berman has appointed Caitlin McSherry as director of investment stewardship on the investing team.
She will work directly with the group’s portfolio managers and research analysts on engaging with companies, and also oversee the firm’s proxy voting processes. She reports to Jonathan Bailey, head of ESG investing at Neuberger Berman.
McSherry joins from State Street Global Advisors where she developed and implemented the firm’s global proxy voting guidelines and led engagements with management and board in her role as vice president and ESG analyst.
Bailey commented: “As an active manager, engagement is at the heart of our investment processes across asset classes. Caitlin will be an important partner to our portfolio managers in seeking to affect positive change while delivering value for clients. We look forward to her continuing our industry-leading innovation in proxy voting and engagement.”
DWS hires group sustainability officer
18 June 2020
European asset manager DWS has recruited Desiree Fixler from US alternative investment specialist ZAIS as group sustainability officer.
Fixler takes the newly-created role in the London office in August, and will report to CEO Asoka Woehrmann.
She will be charged with ensuring the firm’s ESG cstrategy is implemented and consistent across all regions, as well as orchestrating all of DWS’s sustainability efforts globally across the entire value chain.
As well as working at ZAIS, where was portfolio manager and managing director for impact investing, her career has included stints at JP Morgan, Deutsche Bank and Merrill Lynch.
CEO Woehrmann said: “The appointment of our GSO is a huge step for us in creating a holistic approach to ESG at DWS. Desiree has a fantastic track record in responsible investing, as well as valuable experience in global capital markets and product innovation. Her proven ability to develop ESG risk management, policy and reporting frameworks also makes her the perfect fit to elevate DWS’s status to become a leading ESG asset manager globally.”
Schroders’ Howard steps up to lead ESG team
17 June 2020
Schroders global head of stewardship Jessica Ground is leaving the business after more than 20 years.
The firm announced on Wednesday that Ground, who joined Schroders as a graduate in 1997, is leaving to “take the next step in her career”.
Head of sustainable research Andy Howard has been promoted to global head of sustainable investment and will take on leadership of the sustainable investment team, reporting to global head of investment Charles Prideaux.
Ground has held several roles within Schroders’ investment division and the firm said she had been influential in the evolution of its approach to stewardship and its sustainability credentials.
“She leaves with our thanks and best wishes for the future,” a press release said.
Howard joined Schroders in 2016 and played a key role in the development of the company’s proprietary ESG toolkit which contains SustainEx, its impact measurement tool.
Prideaux said: “We recognise that our ability to deliver value to our clients hinges on developing and applying sustainability insights that will strengthen performance and meet their increasing ESG outcome requirements.
“Andy Howard’s appointment will ensure our sustainable investment strategy continues to focus on developing these insights and integrating them into our investment platform as well as into our stewardship agenda.
“We would like to thank Jessica Ground for all her hard work and dedication to Schroders and wish her the very best in the future.”
JPMAM adds four to sustainable investing team
3 June 2020
JP Morgan Asset Management (JPMAM) has recruited four new hires to its global sustainable investing team.
The group unveiled a series of initiatives earlier this year to boost its commitment to sustainable investments including the development of a proprietary ESG framework, prioritising investment stewardship work in five key areas, as well as signing up to Climate Action 100+.
The most recent hires build on that commitment, said Jennifer Wu, global head of sustainable investing at the firm, as it advances its sustainable investing solutions for clients.
After 22 years at JPMAM, Carlos Varela has joined the sustainable investing team as global strategist for Sustainable Investing. Based in Madrid, he will lead a team responsible for developing JPMAM’s suite of sustainable products and work with clients to create tailored investment solutions. He will report into Wu.
Meanwhile, Juan Lois joins JPMAM from Wespath Benefits and Investments as strategist for sustainable investing covering the Americas. In his previous role, Lois led the firm’s sustainable investing activities including overseeing ESG integration, as well as research and product design for its impact investments.
Based in New York in his new role, he will report into Carela and focus on sustainable investing solutions for the Americas.
Furthermore, JPMAM has hired two global sustainable investing research and data analysts, Caspar Siegert and Angelo Drei, to support the build-out of JPMAM’s proprietary ESG scoring framework.
Siegert joins from the Bank of England, where he was responsible for assessing risks across a wide range of asset classes, and Drei joins from Amundi where he worked as quantitative research analyst. Both are based in London and report into Wu.
She said: “As we broaden our sustainable investing platform globally, building on the depth of ESG integration across our global buy-side research analysts, we will continue to invest in our climate research and analytics capabilities and in enhancing our Investment Stewardship efforts. This will include continuing to add talent as we further strengthen our corporate engagement.”
Gresham House hires forestry investment director
2 June 2020
David Gardner has joined Gresham House as investor director of its forestry division.
Reporting to managing director of the forestry division Olly Hughes, Gardner will be responsible for leading the international expansion of the business.
He will also support the distribution and asset management of the investment portfolio. Gresham House manages approximately 135,000 hectares worth in excess of £1.3bn, and runs a 4,074-hectare forestry portfolio in Ireland for AXA Investment Managers.
Gardner joins from US-based timberland investment managers Global Forest Partners where he was partner and director of investments for Asia for a decade. He has also held roles over his 30-year career at Pӧyry Management Consulting in both Malaysia and Singapore, Sappi Forests in South Africa, and the Economic Forestry Group in the UK.
Shaftesbury appoints head of sustainability
8 May 2020
Real Estate Investment Trust (REIT) Shaftesbury has hired Matt Smith from The Crown Estate as its new head of sustainability.
In the newly created role, Smith will report to the CEO Brian Bickell and focus on ensure the business continues to develop and implement its long-term sustainability and engagement strategy.
At The Crown Estate, Smith was head of sustainability (real estate) and was involved in the development of net zero carbon strategies and the creation of places that had a positive impact on people’s health and wellbeing.
CEO Bickell commented: “Smith’s extensive experience will be extremely valuable to us as we continue to address all aspects of sustainability across our business. We are committed to operating in an environmentally sustainable way and minimising the environmental impact of both our operations, and those of our occupiers”.
HSBC GAM recruits Ridley for responsible investment role
6 May 2020
HSBC Global Asset Management has hired Michael Ridley as senior responsible investment specialist as the group sets its sights on impact investing products.
In the newly created role, Ridley will report to head of responsible investment Melissa McDonald and focus on further building the firm’s sustainable proposition including the development of an impact investing capability, defining the sustainable investment criteria and setting market standards for sustainable infrastructure.
He will also lead the engagement with partners in the Organisation for Economic Co-operation and Development (OECD) and development finance institutions in establishing the Principles for Sustainable Infrastructure as an asset class.
Ridley joins from HSBC’s global banking and markets business where he was global head of ESG fixed income research and has also worked at German development agency GIZ, Mizuho International, Amias Berman, The Carbon Trust and Citigroup.
Morgan Stanley IM hires sustainability heads
6 May 2020
Morgan Stanley Investment Management’s (MSIM) has made two appointments to head up its sustainability strategies in London and New York.
Emily Chew has joined MSIM’s New York office as global head of sustainability to lead the investment business’ sustainability strategy and governance efforts. She is tasked with leading a centralised team that will develop MSIM’s ESG investment integration standards, help to launch ESG thematic product, advise clients on sustainability matters, and produce sustainability data, tools and research in support of MSIM investment teams.
She will report into Ted Eliopoulos and Rui de Figueiredo, and co-report to Audrey Choi as well as working closely with the group’s global sustainable finance team.
Chew was previously the global head of ESG for Manulife Investment Management and the Chair of the Steering Committee for Climate Action 100+, and is a member of PRI’s Listed Equities Integration Subcommittee.
Meanwhile, Navindu Katugampola has recently joined MSIM’s London office as the global head of sustainability for fixed income. He has been at Morgan Stanley since 2004 and most recently was the head of green and sustainability bonds within global capital markets, where he was a pioneer in establishing the market for green, social and sustainability bonds and led $80bn of bonds.
