Bev Shah is co-CEO of City Hive
City Hive has formed a stewardship council for the institutional market, as the think tank broadens its oversight to include pensions, charities, endowments and insurers.
Members of the ACT Stewardship Council will oversee the adoption of the ACT Framework to promote action, challenge, and transparency in the institutional market.
The founding members of this wing include consultant and non-executive director Debbie Clarke; Mercer global head of manager research Jo Holden; Aon EMEA delegated chief investment officer Paul Carne; and USS head of manager selection and oversight Phil Edwards.
City Hive said it plans to recruit additional members from across its signatory firms.
Carne said: "ACT has had a positive impact in the wholesale market by championing higher standards of stewardship, transparency, and ethical behaviour across the investment industry.
"ACT can have a similarly transformative influence on the institutional market, benefiting pension schemes, charities, endowments, and insurers alike. By supporting ACT, we have the opportunity to drive positive change, raise industry standards, and ensure that the interests of clients and stakeholders are always put first."
The move comes as City Hive also made a raft of additional appointments, including RBC BlueBay Asset Management chief executive Erich Gerth, who has been named senior adviser.
Square Mile Titan associate director for responsible investment Jake Moeller has been named vice-chair of the ACT Stewardship Council; Forviz Mazars chief investment officer Ben Seager-Scott has been appointed chair of the ACT governance committee; and Evelyn Partners fund manager Genevra Banszky von Ambroz has been named vice-chair of the ACT governance committee.
Changes have also been made to the ACT Global Leadership Council, a body of senior industry figures providing strategic oversight to support higher standards globally.
Chaired by Rathbones' David Coombs, the council will now operate through targeted workstreams based on members' role and responsibility.
The signatory members will provide strategic insights to support the embedding of ACT within their firms; academy members will identify skills gaps; and the ACT Alliance will help embed ACT and its principles through the industry ecosystem.
City Hive co-CEOs Bev Shah and Mandy Kirby said: "We welcome the enhanced governance structure for ACT, which adds robustness and brings fresh insights from across the ecosystem.
"With these additions, we are better equipped to manage risks to the standard and are positioned to deliver meaningful, accountable impact for the industry."
This story first appeared on the website of Professional Pensions' sister title Investment Week
