RI People & Appointments, July 25: Vince Cable joins social enterprise HCT as chairman

Sir Vince Cable, former secretary of state for business innovation and skills and deputy leader of the UK Liberal Democrat Party, has been appointed chair of HCT Group, the social enterprise bus operator formerly called Hackney Community Transport. Sir Vince, who commissioned the Kay Review, said: “I am a great believer in the potential of social enterprise to create social justice, using business to address the pressing social issues of our times. HCT Group exemplifies this, competing in its markets and striving to make a positive social impact – which is why I am so excited about my new role.” HCT, which reinvests the profits it makes from transport contracts back into high social impact transport services, released its latest social impact report on July 21.

Marcela Pinilla has joined the Catholic Responsible Investing (CRI) team at Christian Brothers Investment Services, the $6bn US-based faith investor, as a Senior Analyst. Prior to joining CBIS, she was a Director of Shareholder Advocacy at Mercy Investment Services and before that was an ESG Analyst at Walden Asset Management. “Our expanded CRI team is positioned to achieve positive impact through our investments and address participant priorities,” said Julie Tanner, Director of Catholic Responsible Investing. CBIS recently also hired Tracey Rembert, the former Director of the Investor Initiative for Sustainable Exchanges at advocacy group Ceres.

Tommaso Corcos, the Head of Asset Management at Intesa Sanpaolo and the new chairman of Italian funds body Assogestioni, has been appointed as Deputy Chairman of the Italian Corporate Governance Committee. The committee said it would not be revising the existing Corporate Governance Code.

The UK has appointed Nick Hurd as its new climate change minister. Hurd, who was formerly a minister in the Department for International Development, is a member of the Conservative Environment Network. In related news, Hurd is also the focus of a campaign by UK social investors who want him to adopt responsibility for social investment and social enterprise policy following a government reshuffle. Hurd oversaw the sector while he was Minister for Civil Society.

Paul Romer, respected economist and entrepreneur, has been named Chief Economist at the World Bank, the UN’s development financial institution. Romer, currently a Professor at New York University (NYU), will take up his new role in September. Romer is also Director of NYU’s Marron Institute of Urban Management, and a professor of economics in NYU’s Stern School of Business.

Brian Nick has been named Chief Investment Strategist for TIAA Investments by TIAA Global Asset Management, the $889bn US investment giant. Formerly with UBS Wealth Management Americas, he was head of tactical asset allocation and led the firm’s efforts in developing its tactical investment strategies and portfolio concepts. Link*Carolyn Trabuco has been named Managing* Director and Global Thematic Research Analyst at Cornerstone Capital Group, the financial services firm founded by former UBS executive Erika Karp. Trabuco will be based in New York and report to John Wilson, the Head of Corporate Governance, Engagement and Research. “We are thrilled to add Carolyn’s exceptional, incisive research capability to Cornerstone’s advisory proposition. Using the enhanced analytical processes associated with an ESG (Environmental, Social and Governance) lens will allow us to optimally support the investment decision-making capabilities of our clients and our firm,” said Karp.

Zhang Bo has become the latest person to resign at struggling China-based solar power firm, Hanergy Thin Film. It comes just a couple of months after the company’s ex-Chairman Li Hejun stepped down along with CEO Frank Dai and Deputy Chairman Feng Dianbo. Hanergy Thin Film posted a HK$12.2bn ($1.6bn) loss in March for the 2015 calendar year and has had trading of its shares suspended on the Hong Kong Stock Exchange since May. Link

Henrietta Lance, who ran the Amundi Islamic Global Resources and the Amundi Funds-Equity Global Resources fund at Amundi Asset Management, has left the firm after nine years, according to reports. Citywire said Lance – who also ran a water fund before it closed – has passed the management of the funds to Arnaud du Plessis.

The Investor Group on Climate Change (IGCC), the Australasian investor body, has welcomed the appointment of Josh Frydenberg as Australia’s Minister for the Environment and Energy, seeing the amalgamation of the offices as move towards a “more integrated approach to policy”. Greenpeace, however, has reportedly raised severe objections to the appointment, citing Frydenberg’s pro-coal stance.

Brenecia Watson has been named as the new Director of Equal Employment Opportunity at the Pension Benefit Guaranty Corporation (PBGC), the US federal agency that protects pension benefits in private-sector defined benefit plans. The former Army non-commissioned officer takes over from Karen Margensey, who has retired. Announcement

A National Sustainability Manager is being sought by Triovest Realty Advisors, the Canadian commercial real estate investment and advisory firm. The successful candidate will report to the Director, Sustainability and be responsible for leading environmental, social and governance (ESG) initiatives in the firm’s developments, owned and managed assets, and internal operations.