The Duke and the Duchess of Sussex, Prince William and Maghan, are getting into the investment business. They are confirmed to be joining Ethic, a fintech asset manager in the fast-growing environmental, social and governance space, they will be part of the Ethic team as “Impact Partners” and investors, Ethic has a diverse team that combines extensive institutional investing, technology, data, and design expertise. Ethic has $1.3 billion under management and creates separately managed accounts to invest in social responsibility themes.
Ethic’s story began in late 2015 when our founders began considering how they might leverage their complementary skill sets—spanning finance, institutional investing, engineering, and design—for maximum social impact. Driven by a desire to help create a world where all investing is sustainable investing, they set about uniting two traditionally separate communities: sustainability and institutional quantitative finance.
The Duke and Duchess could definitely attract more attention to sustainable investing. Harry and Meghan can make ESG investing part of the culture in a way that attract new investors and attract an enormous attention into investing. “When we invest in each other we change the world,” they said in a statement. “Our choices – of how and where we put our energy – define us as a global community.
“My husband has been saying for years, ‘Gosh, don’t you wish there was a place where if your values were aligned like this, you could put your money to that same sort of thing?’” Meghan said. They were introduced to Ethic by friends, she said.
Harry and Meghan hoped that their involvement in would help democratize investing, making people — especially younger people — more deliberate in their decisions and conscious of investing in companies with a strong sustainability strategy. “You already have the younger generation voting with their dollars and their pounds, you know, all over the world when it comes to brands, they select and choose from,” Harry said, suggesting it was a natural extension to create the same with investments with a sustainable approach.
“Now they want to shine a light on how we can all impact the causes that affect our communities, bring transparency into how the corporate world sets the tone and shapes outcomes for everyday families, and believe that more people should have a seat at the table when it comes to making progress,” the company said in a press release. Ethic did not disclose how much the pair would be paid for their advice.
Harry said he suspected young people in future would demand their money was invested in ethical companies. “You already have the younger generation voting with their dollars and their pounds, you know, all over the world when it comes to brands they select and choose from,” he said.
Ethic’s existing investors include Ashton Kutcher’s Sound Ventures and the investment fund Fidelity Investments.
The appointment is the latest in a long list of jobs they have taken on since stepping down as senior royals and moving to Los Angeles. In March, Harry was appointed “chief impact officer” at BetterUp, a Silicon Valley startup that provides professional coaching, mental health advice and “immersive learning”.
