Majedie Asset Management has hired former head of ESG at Aberdeen Standard Investments Cindy Rose as its first head of responsible capitalism, with the firm aiming for practices that are "fair to employees, shareholders, customers, regulators and the wider community".
The firm formally adopted 'responsible capitalism' as its ESG ethos at its 2012 client conference, and is now a signatory to the United Nation's Principles for Responsible Investment and to the Financial Reporting Council's stewardship code, as well as being a member of the New City Initiative.
Rose, who was also previously co-head of ESG and stewardship at Aberdeen Asset Management, is expected to join the firm on 27 August.
Chief executive of Majedie Rob Harris said: "Active equity management requires active stewardship and Responsible Capitalism is in our DNA.
"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. ESG issues have financial implications; they do not exist in a vacuum.
"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.
"With Cindy's appointment, we are further strengthening this commitment."
Across four divisions
'Passive holdings still making an active difference'
Covering more than 3,000 issuers
Replacing outgoing Phil Loney