State Street Global Advisors (SSGA) has hired Hannah Shoesmith to lead its newly created Sustainability Stewardship Service, focused exclusively on executing the firms sustainability policy and conducting portfolio company engagements on behalf of clients that have opted into the service.
Before joining SSGA, Shoesmith worked as head of engagement – active ownership – at Schroders, as well as previously holding the role of director of engagement at Hermes Asset Management.
Designed for investors who prioritise achieving sustainability outcomes and based on direct input from such clients, the Sustainability Service provides a framework for company engagement and specialised proxy voting focused on specific sustainability priorities.
Clients opting into the Sustainability Service can select the Sustainability Stewardship Service Proxy Voting and Engagement Policy (the Sustainability Policy) or retain their own voting authority.
The European and UK fund ranges sponsored and managed by SSGA have elected that their proxy voting and engagement will be conducted pursuant to the Sustainability Policy.
The service is available globally to institutional separately managed account clients.
Ann Prendergast, head of EMEA, SSGA, commented: “At SSGA, we believe in providing choice. Our aim is to ensure that all our clients have the opportunity to build investment portfolios matched to their goals and preferences.
“The launch of our Sustainability Stewardship Service has been created in response to feedback received from institutional clients expressing an interest for more engagement with portfolio companies on sustainability topics. These clients are, in turn, reflecting strong ongoing support for this work from their beneficiaries. In line with our commitment to being a trusted partner, we will continue to deploy our expertise to ensure client needs in this area are met.”
Karen Wong, SSGA’s global head of sustainable investing and asset stewardship, added: “Our new Sustainability Stewardship Service is a clear example of how we continue to innovate to support clients on their unique investment journeys.
“In the ever-evolving sustainability landscape, investors need informed solutions to help them invest with confidence on behalf of their clients and members. The Sustainability Stewardship Service was developed in partnership with clients and will evolve through ongoing client input and research.”
