Scottish Widows hires Craig Mackenzie as head of sustainability

Fund manager to beef up E&S engagement with corporates.

Craig Mackenzie, a well-known figure in the UK responsible investment scene, has been hired by Scottish Widows Investment Partnership (SWIP) as its new head of sustainability, with a remit that includes pushing the fund manager’s lobbying of companies to improve their environmental and social practices. Mackenzie, co-author of the book Responsible Investment published in 2006, joins SWIP on November 1 from the University of Edinburgh Business School where he was director of the Centre for Business and Climate Change. Mackenzie previously spent 10 years in investment management creating and managing governance and sustainable research divisions at Insight Investment and Friends Ivory and Sime. At SWIP, he will report to Andrew November, director of equities. In his new role he will be responsible for strategy and performance of SWIP’s sustainability practices across all asset classes including real estate and private equity.
The Edinburgh-based fund manager, part of the Lloyds banking group, wants to increase the amount of engagement it does with the corporates it invests in – notably FTSE100 groups where it is a largeshareholder – on green and social issues, and hone the integration of themes such as energy efficiency and green consumer trends in its investment selection process. Mackenzie says his target is to make SWIP one of the top decile sustainable fund managers amongst signatories to the United Nations Principles for Responsible Investment.
He will work alongside SWIP’s sustainable and responsible investment team, Joanna Terret and Johnny Russell, managers of its £440m ($700m) in sustainable investment funds, as well as the firm’s corporate governance team of Anne Fraser and Richard Dunbar.
SWIP has lost a number of staff this year who were involved with running some of its sustainability themed portfolios. Ian Vose, former head of global developed markets who ran the SWIP Global SRI fund and the group’s Sicav-based Islamic Global Equity fund, left for Investec Asset Management.
Andrew Ness, former investment director on the global emerging markets (GEM) desk, who was portfolio manager for SWIP’s GEM sustainability portfolios, was part of an emerging markets team lift by Scottish funds rival, Martin Currie.