The Financial Conduct Authority has appointed Sacha Sadan to the newly created role of director of environment, social and governance.
The appointment comes as ESG investing and initiatives gain momentum in the financial services sector, with the pandemic accelerating the trend as more firms set targets related to sustainability goals.
The asset management veteran, who has worked in the industry since 1994, joins the City watchdog from Legal and General Investment Management where he was director of stewardship. Prior to working at the £1.3tn asset manager, Sadan worked at Gartmore Asset Management, where he went on to become co-manager of UK equity hedge, retail and institutional funds, and the pension scheme Universities Superannuation Scheme.
Sadan will be tasked with developing the FCA’s approach to sustainable finance domestically and internationally, the regulator said. He will also lead the development of policy that will “help ensure the long-term safety and soundness of firms, the proper function of markets and the protection of consumers”.
“I’m delighted to join the FCA to help promote the UK as a global financial leader in ESG,” Sadan said in a 19 April statement. “Throughout my career as an asset owner, fund manager and global stewardship director I’ve focused on the protection of consumer interests and responsible capitalism.”
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“We welcome the recent addition to our remit of a requirement to have regard to the UK target of net zero carbon emissions,” Nikhil Rathi, chief executive of the FCA, added. “I am delighted to have someone of Sacha’s experience and insight joining us to help us accelerate this important work.”
The watchdog also announced that it had it had appointed Ian Alderton to take up the role of chief information officer and Ian Phoenix as the new director of intelligence and digital, focused on harmful online activity.
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Originally Appeared On: https://www.fnlondon.com/articles/fca-appoints-director-of-environment-social-and-governance-20210419