Craig Metrick, the US head of responsible investment at consulting firm Mercer is to join Cornerstone Capital, the new sustainable finance consultancy firm set up by Erika Karp, former head of global sector research at UBS Investment Bank.
Metrick, who has been with Mercer since 2006, sits on the board of the US Forum for Sustainable and Responsible Investment (US SIF). He reported to Jane Ambachtsheer, Mercer’s global head of responsible investment, who said: “Craig has made a valuable contribution during the eight years he has been with Mercer and we wish him the best in his new role. Mercer is in the process of evaluating internal and external candidates to fill the position held by Craig.”
New York-based Cornerstone was set up just over a year ago to bring sustainable finance to mainstream capital markets through consulting to financial institutions and corporations. Karp, one of the global broking community’s leading voices on sustainability, left UBS in 2013. She is a founding board member of the Sustainability Accounting Standards Board (SASB), a member of the US SIF and sits on the working group of the International Integrated Reporting Council (IIRC).
Metrick’s role at Mercer was to consult to public, privateand foundation clients on implementing responsible investment principles and mandates within defined benefit and defined contribution structures. His new role at Cornerstone is unclear.
Before joining Mercer, he was Director of the Corporate Benchmarking Service at the Investor Responsibility Research Center that was acquired by Institutional Shareholder Services (ISS) in 2005. He joined Mercer a year later. He also sits on the US Advisory Committee of the FTSE4Good Indices.
Metrick is the latest senior industry figure to link with Cornerstone as it moves from being an advisory firm to offering wealth management and investment banking services.
In July Michael Baldinger, CEO of sustainable investment firm RobecoSAM, joined its board. Among advisors to the firm are Harvard’s Robert Eccles, Philipp Aeby (RepRisk), Barbara Brown (BrownFlynn), Kimberly Gladman (Just Capital), Andy Howard (ex-Goldman Sachs, now Didas Research), James Hulse (CDP), Sir David King (UK Special Representative for Climate Change), Karina Litvack (ex-F&C), Michael Muyot (CRD Analytics), Howard Sherman (GMI Ratings) and Mark Tulay (Global Initiative for Sustainability Ratings).