David Macri the long standing investment chief of Australian Ethical Investment will step down at the end of 2022.
Managing director John McMurdo said Macri has helped transform Australian Ethical into an ethical investment management powerhouse now managing more than $6.2 billion, during his 11-year stint as chief investment officer.
"David was responsible for developing unique investment strategies and processes that enabled our funds to deliver excellent investment performance over the last decade and has worked tirelessly to demonstrate that you don't need to compromise on investment performance to invest ethically. He has built and led a highly capable investment team which we are confident will continue to deliver long-term investment performance for our investors," McMurdo said today.
"We wish David every success for the future and sincerely thank him for the significant contribution he has made."
Before joining Australian Ethical, Macri worked at Macquarie Securities, Credit Suisse Asset Management, Mellon and Mercer.
Macri said he is confident the team will be able to build on the existing platform and its strengths by adding more diverse capability and product offerings that help grow the legacy that has been created over the last decade.
"While I will greatly miss working alongside such an experienced and capable team, after more than a decade as CIO, now feels like a natural juncture to assess my next challenge and allow others to build on what has been achieved." he said.
A global search for a new investment chief is now underway with a high-quality pool of candidates anticipated given Australian Ethical's standing in ethical investing, both domestically and internationally.