Joint lead of BoAML’s ESG broker research unit leaves

Highly rated broker, Valéry Lucas-Leclin, takes a career break.

Valéry Lucas-Leclin, one of Europe’s top rated ESG broker analysts who was brought in to jointly run Bank of America Merrill Lynch’s (BoAML) sustainability research in London in 2010, is leaving the company. Lucas-Leclin told RI that he would be taking a career break before considering his future options in the ESG and sustainability field. Lucas-Leclin has worked in SRI for 15 years for five different companies: AReSE, Innovest, CM-CIC Securities, Société Générale, and BoAML. He lately held the role of Director
, Senior Analyst, Thematic, ESG Sustainability, 
EMEA Global Research, at Merrill Lynch Capital Markets in Paris, after returning to his native France during 2013 after three years in London. There, he had jointly rebuilt BoAML’s sustainability research team after being hired by the bank in September 2010 along with co-head Sarbjit Nahal. The two joined from the successful SRI research team at Société Générale in Paris that they had led.The pair have worked together for almost 15 years in ESG research roles in various companies and won numerous research awards together. In 2009, Merrill Lynch had cut its dedicated SRI research by laying off specialist staff, part of a wave of cuts of ESG analysts that were mostly reversed a year or two later. Nahal is staying with BoAML in London in his current role as Head of Thematic Investing & ESG Strategy backed by a team of related analysts and sales staff. The bank has been building out its broker sustainability research, notably in the US and Asia. In 2012, BoAML teamed up with institutional investment research firm CAMRADATA Analytical Services to launch a service called ESG Geographic Portfolio Analysis, which helps investors such as pension funds and insurance companies identify how their international portfolios may be exposed to ESG factors compared to their benchmark.