RIAA CEO Simon O'Connor exits
After serving as chief executive of the Responsible Investment Association Australasia (RIAA) for more than 10 years, Simon O'Connor is leaving the professional network at the end of this year.
O'Connor took the position in February 2013, leaving environmental non-profit the Australian Conservation Foundation and public interest economic consultancy Economists at Large.
O'Connor cited personal reasons for his departure from RIAA. He plans to take a career break to spend more time with his partner and children, and to consider his future endeavours in sustainability issues.
He will stay on in the position until December and work closely with the board and team to ensure a smooth leadership transition.
"After a decade and a half, RIAA has grown to become a strong organisation having a huge impact across the sustainable finance and responsible investment fields. We're in a stronger position than we've ever been," O'Connor told FS Sustainability.
"This gives me confidence that now is the right time for me to transition out, whilst giving RIAA the opportunity to continue its momentum during this really important time for responsible investment."
RIAA has expanded from two to 20 staff under O'Connor's leadership. It has grown from representing 150 investment organisations across Australia and Aotearoa New Zealand that collectively manage over $550 billion in assets - to more than 500 organisations with over $43 trillion in assets.
"It's been a privilege to hold this role and work with our brilliant team, our strong and committed board and our passionate and engaged community of members for the last decade," O'Connor said.
He added that the organisation has evolved from "a cottage industry on the side-lines" to "right in the centre of core financial services discussions, focus and regulatory development".
Ross Piper, chair of the RIAA board commented: "Simon has been a highly effective, influential and catalytic leader in our sector... The board expresses sincere thanks to Simon for his decade of service to RIAA, and also to the team and network of RIAA members. Simon's time at RIAA has been highly impactful across the Australian and New Zealand financial services sectors.
"His leadership leaves a firm legacy and foundation from which we're excited to now build upon for the next phase of RIAA's growth."
The board will shortly begin the recruitment process to find a replacement, commencing a local and international search for RIAA's next CEO.
"It's one of the best jobs in the field that I know of, and I really look forward to seeing who will take the reigns and move RIAA into it's next stage of growth," O'Connor said.
O'Connor will also step aside as chair of the Global Sustainable Investment Alliance (GSIA). UK Sustainable Investment and Finance Association CEO James Alexander will take over the role. The new RIAA CEO will take over the role of GSIA committee member so that the organisation can continue its international engagement.
"The work we do in Australia and New Zealand is now inextricably linked to the global developments in our sector. Those international connections RIAA holds through the GSIA and other initiatives through the CFA Institute and the PRI are really important to the work we do here."
This announcement coincides with the release of the International Sustainability Standards Board's (ISSB) first two finalised standards and the Australian Government's second consultation proposing mandatory climate-related financial reporting, which RIAA will continue its engagement on.
"We are moving into a legislative and regulatory moment, and a really unique window to influence regulations and policies as they become hardwired and embedded across the financial services sector," O'Connor said.
"The key building blocks of an impactful and sustainable financial services sector will land in the next couple of years."
RIAA's Benchmark Report 2023 - an annual study tracking the size, growth and performance of responsible, ethical and impact investment industry - will be released 28 August.
