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Global investment manager Neuberger Berman has named former McKinsey executive Jonathan Bailey as its head of ESG (environmental, social and governance) investing.
The position is new. In his new role, Bailey will work with the firm’s investment teams and research departments to further incorporate ESG principles into the equities, fixed income and alternatives platform, Neuberger said in a statement. He will report directly to Neuberger Berman’s president, Joseph Amato, help portfolio managers consider ESG as part of their analytical approach to evaluating companies and markets, and chair the firm’s ESG investment advisory committee.
Bailey was most recently with think tank Focusing Capital on the Long Term (FCLT), the statement added. Beforehand, he was an associate partner at McKinsey & Company, where he advised pension plans, asset managers, and other finance institutions on a range of issues, including ESG integration. Previously, he worked on sustainability and governance investment projects for both former Vice President Al Gore and former British Prime Minister Tony Blair.
“As a firm, we have a deep history in ESG investing, going back to our first application of ‘avoidance screens’ in the 1940s to the launch of our Socially Responsive Investment team in 1989,” said Amato in the statement. “Jonathan will enhance our capabilities even further across our investing platforms, as demand for ESG strategies rise globally.”
Founded in 1939, Neuberger Berman is a private, independent, employee-owned investment firm managing equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. It managed $267 billion in client assets as of September 30, 2016, more than $40 billion of which is in the firm’s private equity platform.