U Ethical Investors promotes deputy CIO to top investment job

U Ethical Investors has promoted deputy investment chief Jon Fernie to the top investment job replacing James Cook who will depart the fund at the end of the year.

Fernie brings more than 15 years' experience in the financial services industry to the role.

His career includes stints at UBS, Nomura, Lloyds Bank, and Austock Securities.

U Ethical said over the last five years, Fernie has been instrumental in the management of both Australian and global equities portfolios.

Commenting on his promotion, Fernie said he looked forward to building on the strong investment and ethical outcomes that his predecessor has delivered for investors over the last five years.

U Ethical chief executive Mathew Browning also acknowledged the contribution Cook had made to the fund.

"James's influence on U Ethical's journey as a best in class ethical investment manager has been profound and enduring, and we shall continue to enjoy his legacy for many years to come," he said

On announcing his intention to step down, Cook commented "While a lot has been going on across financial markets over the last four and half years, I am proud of the way the team has continued to match the market's dynamic forces with our own developments.

"Against a highly competitive and uncertain arena, our investment processes and our ethical stance continues to deliver the financial performance and generate the positive impact our investors and stakeholders expect."