HBOS Asset Management has recruited three members of Friends Ivory & Sime's Socially Responsible Inv...
HBOS Asset Management has recruited three members of Friends Ivory & Sime's Socially Responsible Investment (SRI) team.
Craig Mackenzie who was director of SRI at Friends Ivory & Sime, will head up the function at HBOS where he will report to chief investment officer Michael Deakin. He is joined at HBOS by his deputy Rachel Crossley and fellow team member Steve Waygood. HBOS Asset Management runs two ethical funds ' Evergreen, a £20.5m global, environmental portfolio and Ethical, a £19m UK and European SRI product but it has no staff dedicated exclusively to the sector.
Gary Mairs, managing director at HBOS Asset Management and formerly managing director of retail and institutional business at Friends Ivory & Sime, said the company was set to add a further three members to the team in a bid to build a leading SRI offering.
Mairs said that the additional resources would enable the company to be in a position to launch new SRI funds and improve its existing offering. Mackenzie has left Friends Ivory & Sime and is in negotiations with his former employer about when he will be allowed to start work at HBOS Asset Management. Mairs said: 'This recruitment will allow us to offer a leading range of products in a growing market sector.'
He added that HBOS Asset Management would continue to expand its capabilities in a number of areas.
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