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US sustainable funds firm Calvert hires senior ING executive

New Head of Distribution to head up sales

Calvert Investments, the US sustainable asset management firm, has hired a senior executive from ING’s US arm as its new head of distribution.

The firm, which has around $11.5bn (€9.3bn) in assets under management, said it has appointed Lynne Ford to the new role of Executive Vice President and Head of Distribution.

She will head up retail and institutional sales, marketing, and public relations. She will be a member of Calvert’s Management Committee.

Ford was most recently EVP and Chief Executive Officer of Individual Retirement at ING US. Before that she had senior roles at Wachovia and Evergreen Investments.
She is also Chairman of the Insured Retirement Institute

(IRI), the US annuities industry trade body. She will relocate from New York to Calvert’s base in Bethesda, Maryland.Calvert said the appointment underscores its plan to grow both the institutional and retail aspects of its business with new “relationships, channels and platforms” and capitalizing on its existing relationships with investment consultants.

Calvert CEO said Barbara Krumsiek said Ford would help expose the company “to a market that increasingly recognizes the need to provide investors with sustainable and responsible investment options”.

An analysis of Calvert’s parent company, Nebraska-based mutual insurance group Ameritas, by Standard & Poor’s last month (link) said Calvert’s assets under management fell by 16% in 2011, reflecting the economic environment. Ameritas changed its named from UNIFI in May this year.
Calvert Announcement