Impact Investment Group names CEO

Australian impact fund manager, Impact Investment Group (IIG), has announced the appointment of Daniel Madhavan as the firm's new chief executive officer, effective January 2018.

He replaces former CEO and co-founder, Chris Lock, who stepped down from the firm in September 2017. Danny Almagor, co-founder and chair, has been acting as CEO since Lock's departure.

Madhavan was most recently the founding CEO of Impact Investing Australia, an independent organisation dedicated to growing opportunities for investments that deliver positive social and environmental impact, alongside financial return.

Previously he spent 12 years at JB Were and Goldman Sachs JB Were where he served in a variety of roles including as acting CEO, chief operating officer and head of NSW.

Commenting on Madhavan's appointment at IIG, Almagor, said: "Daniel has the unique combination of deep experience in the existing financial system plus a clear vision for what is coming next: a humane economy driven by social responsibility and environmental sustainability. Daniel brings such an impressive record as a leader in the financial services industry and the impact investing sector. We can't wait to get started."

Madhavan added: "I have spent time at the helm of one of the oldest investment houses in Australia, and through this experience grew to understand the true power and importance of finance in our society. I look forward to joining a team that is harnessing this power to build a more equitable, sustainable and prosperous economy together. The horizon is full of opportunity for those dedicated to building a better world."

Madhavan, who commences with IIG on 13 November 2017, will work alongside Almagor in a transitional phase before officially taking over as CEO in January 2018. Almagor will continue in the role of chair.