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GS Sustain NYC Executive Director, Marc Fox, leaves for CDP

Drive to deepen dialogue with US investors.

Marc Fox, New York-based Executive Director at Goldman Sachs’ GS Sustain team has left the firm to lead a major drive towards engaging investors in the US by the Carbon Disclosure Project (CDP). Responsible-investor.com can reveal that Fox has joined CDP as Director, Investor Engagement, to work primarily with US asset owners and asset managers on deepening their involvement with CDP. Fox has been one of the lynchpins of the development of GS Sustain, the bank’s ESG broker research arm, which launched in 2007. He joined Goldman Sachs in 2005 and co-developed the GS Sustain focus list, an investment portfolio strategy based on analysis of sustainability of corporate performance, economic returns spreads valuation methodology, and alternative energy technology. Fox transferred to New York from London in December 2008 to lead GS Sustain in North America. Goldman, whose asset management division became a signatory to the UN Principles for Responsible Investment (PRI) at the end of 2011, recently said in its new Environmental, Social and Governance report that it wanted to expand the GS Sustain programme.The report said: “In 2012, our goal is to expand GS Sustain further as it becomes increasingly integral to global investment research at Goldman Sachs.”
CDP, which works with 655 institutional investors worldwide with $78trn in assets, said it was “delighted” that Fox had joined the initiative.
Zoe Tcholak-Antitch, Director, North America at CDP said Fox’s responsibilities would predominantly involve deepening dialogue with the large number of CDP asset owner and manager signatories in the US and Canada as well as broadening membership. Andrew Howard, Head of GS Sustain, said Fox’s North American duties had been assumed by Derek Bingham, a member of the 15-strong team GS Sustain team based out of San Francisco, and that GS Sustain retained one analyst in the firm’s New York office with likely hires down the line. Howard said the GS Sustain team had tripled in the last five years and would continue to expand.