Former head of emerging market debt (EMD) at Nordea Asset Management Thede Rüst has joined the United Nations Development Programme (UNDP) Sustainable Finance Hub.
Rüst left Nordea earlier this year after 10 years as the group wound down its EMD arm and outsourced portfolio management to MetLife in May.
Speaking about the transition in a LinkedIn post, Rüst said: “The unexpected end of my previous role was tough. It was not easy – far from it – but it became a mid-career checkpoint. I am truly grateful for the many conversations I had during this time, which gave me insight, perspective, and the needed sense for self-worth.”
He managed investment funds for nearly 20 years, with the latter years focused on funds that generate a financial return that also have a planetary and societal impact mandate.
As a result, Rüst said he is fulfilling a “childhood dream” with his new role as senior sustainable finance adviser.
“Today, I am thrilled to embark on a new chapter, joining an organisation whose core mandate is to end poverty, build democratic governance, uphold the rule of law, and foster inclusive institutions. I am excited to bring my investing experience to the United Nations, specifically to the UNDP Sustainable Finance Hub.”
He will be responsible for managing UNDP’s Sustainable Finance Advisory Hub in Brussels, delivering technical expertise to countries on taxonomies, bond frameworks, and disclosure standards. He will also lead co-ordination with stakeholders across Europe, and foster South-South cooperation, as well as and represent the UNDP at global events.
Rüst is also co-founder of the Global South Sustainable Finance initiative, designed to engage and build capacity on green, social, sustainable and sustainability-linked bonds.
Prior to joining Nordea, he worked at ING, ACAP and the Economic Policy Research Institute. He also worked at the UN as an intern in NYC.
