LGT Wealth Management has appointed Phoebe Stone as chief sustainability officer (UK), underscoring the firm’s dedication to sustainable practices for clients, society, and the environment.
In her new role, Stone will enhance LGT Wealth Management’s sustainable offerings across private and public investments, while promoting environmentally conscious practices throughout the firm’s operations and divisions.
She previously led LGT Wealth Management’s sustainable investing division, overseeing ESG integration, stewardship, and a dedicated investment team since launching the division in 2018. She joined as a portfolio manager in 2014 and became a partner in 2020.
Commenting on the significance of her appointment, Stone said, “The overarching goal is to drive forward our interconnected approach to sustainability, including heightened accountability for our own business practices and those of the companies in which we invest. Continuing to highlight the crucial role the financial sector can play in restoring and protecting our world is fundamental. While there is so much complexity and nuance inherent in sustainability, we are in the fortunate position of being able to dedicate what we feel are the necessary resources and expertise – evidenced by our Group’s long-term investment in and focus on this space.”
With its private ownership and long-term focus, LGT Wealth Management has set bold targets, aiming for net-zero status across its investments and operations by 2030.
The chief sustainability officer (UK) role consolidates sustainability efforts into a unified strategy, following the 2023 acquisition of abrdn’s discretionary fund management business.
Ben Snee, Chief Executive Officer of LGT Wealth Management, explained, “Chief sustainability officers are a rarity in wealth management, with sustainability roles too often seen as a niche area of the investment function. Our creation of a Chief Sustainability Officer is part of our commitment to ensuring we are a firm that looks at our impact on the world in a much broader way, building on our reputation as early-adopters when it comes to sustainability.”
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