About Me

I believe we are all created equally.

 

Pioneering work integrating economics, investment strategy, responsible investment, and policy

I am a senior investment professional and former Chief Investment Officer who has always integrated mainstream investment strategy and portfolio management with responsible investment. This has spanned Chief Investment Officer, strategic leadership, and portfolio management roles, most recently leading responsible investment strategy and integration across Legal & General Asset Management's £1.2 trillion assets under management. It has included high level company and policy engagement, and working with clients and media.

For further information, see my LinkedIn profile.

Write and speak on economic policy, responsible investment, faith and society

I believe we all have equal worth and that society should reflect this.

That means for example that every child should have a fair start in life and that we do all we can to reduce unemployment and improve opportunities. It means we need a dynamic economy in which businesses, individuals, and communities can flourish.

I write and speak on a variety of issues, including economic policy, responsible investment, and faith and society.  I co-wrote the 2024 Fabian Society pamphlet, Power and Prosperity - how a radical Labour government can transform Britain and I wrote the 2011 Fabian Society pamphlet, The Credibility Deficit, how to rebuild Labour's economic reputation.

Head of Responsible Investment Strategic Relationships & Integration Strategy
Legal & General Asset Management (2024-26)

Responsible for managing strategic relationships in responsible investment (engaging externally) and strategy to integrate responsible investment. Member of Glasgow Financial Alliance for Net Zero (GFANZ) steering group and co-lead GFANZ index investing work stream. Member of Net Zero Asset Managers Initiative (NZAM) advisory group.

As Head of Responsible Investment Strategic Relationships and Integration Strategy at Legal and General Asset Management, I led the strategic development and integration of responsible investment across the asset management business, positioning L&G as a global leader in responsible investment and sustainability and improving the integration of RI across the firm. I have driven alignment across teams in public and private markets, delivering thought leadership on RI, and representing L&G in high-profile strategic external forums and alliances. This has included advising the CEO on strategic relationships and representing the firm in senior external forums including Principles for Responsible Investment, GFANZ, NZAM, the EMDE Investor Taskforce, the Sustainable Markets Initiative, and the Institutional Investor Group on Climate Change.

Senior Manager, Sustainability and Responsible Investment
Legal & General Asset Management (2022-24)

Senior member of the Investment Stewardship team, responsible for managing stewardship engagement with companies on climate change, alignment with a net zero emissions future to keep temperature rise to 1.5C, and promotion of a just transition. Managed the Climate Impact Pledge, assessing  over 5,000 companies and directly researching and talking to over 100. Responsible for Climate Impact Pledge annual report publication, media, and other comms.

I also engaged on broader sustainability issues - including deforestation, and biodiversity. Speak, write, and engage with media and other stakeholders on behalf of clients. Regularly present to pension and charity clients.

Chief Investment Officer and Head of Ethics (ESG), Central Finance Board of the Methodist Church and Epworth Investment Management, Executive board member, Epworth Investment Management (to 2021)

I managed the investment team of the CFB and Epworth Investment Management Limited (regulated by the FCA), managing funds worth approximately £1.3bn. I was responsible for investment strategy and for the ethical/responsible investment approach, a board member of Epworth, an executive committee member, and deputised for the CEO. The funds included global and UK equity portfolios, gilt and corporate bond portfolios, and a deposit fund. I was also responsible for strategy (economic and market analysis).  The CFB manages money on behalf of the Methodist Church in Great Britain and Epworth, a commercial investment firm, manages money on behalf of other church groups and charities, both on a responsible basis.

I led an investment team, and determined the investment strategy and ethical/ESG/responsible investment approach, including asset allocation and management of UK equity, bond, and cash portfolios (mainly portfolios with direct holdings of securities). Transformed and modernised investment processes, research, and portfolio management. Launched and managed new responsible investment funds for the charity and pension sectors. I managed team changes and trained graduates.
 
Pioneered work in the responsible investment sector, integrating investment objectives including responsible investment. All funds had demanding benchmarks but were managed with responsible investment objectives and restrictions.
 
I managed the team, and investment strategy, through key crises including the dotcom boom and bust, 9/11, the Global Financial Crisis, and the Covid pandemic. Responsible investment analysis of and engagement companies (including Environmental, Social, and Governance analysis) alongside conventional analysis; corporate governance (incl AGM voting) policy.

Led work bringing global mining chief executives and church leaders together to work out how mining can benefit all communities, our range of ethical investment policies, and what was then one of the most comprehensive assessments of the oil and gas sector in the light of climate change, together with wider work towards net zero portfolios.

My approach is to look at both company finances and at how responsible they are.  This means I analyse issues such as human rights, the environment including climate change, employment conditions, executive pay, supply chains, gambling, defence, and alcohol promotion.  The role combined finance and the voluntary sector.

"Stephen is well known for his commitment to, and knowledge of, ethical investment and has led many initiatives in this area.  These include pioneering work bringing global mining chief executives and church leaders together to work out how mining can benefit all communities, our range of ethical investment policies, and one of the most comprehensive assessments of the oil and gas sector in the light of climate change, together with wider work towards net zero portfolios. The CFB, Epworth, and their clients have benefited from Stephen’s ability to bring together investment theory and experience, ethics, ESG analysis, company engagement, and an understanding of economic strategy and policy." See here for full quote.
 

Chair, Church Investors Group (current, non executive)

I am Chair of the Church Investors Group. The CIG brings together church investing organisations from around the UK. It also has members from church institutional investing bodies in Europe and around the world. Its 67 members account for approximately £26bn of assets under management. We work together on ethical investment issues, engaging with companies and sharing perspectives. Some members (including the CFB) share a voting template for voting at company AGMs on issues such as executive pay, boardroom gender diversity, and climate change.

Mining and Faith Reflections Initiative (current, non executive)

I am part of a global initiative to bring together the CEOs and other senior executives of global mining companies with church leaders from around the world (eg Anglo American, Newmont, Glencore). The purpose is to discuss mining and the common good - how mining can genuinely benefit all humanity. I have been involved from the beginning, in 2013. We have met at the Vatican (the Pope and Cardinal Turkson) and at Lambeth Palace (Archbishop of Canterbury, President and Secretary of Methodist Conference). We talk to communities affected directly by mining, including via site visits. I have visited mines and local communities in Ghana and Peru.

Mining companies wanted to understand better the concerns people have about mining, even when progressive sustainability policies are implemented. The churches offered to convene conversations, on the understanding that everyone is open to transformation. The initiative has stimulated other conversations between stakeholders around the world, and also initiatives to set new standards. I am on the steering committee and represent the Methodist Church.

Other investment roles

l hold a number of other investment sector roles including:

• Co-chair, Investment committee, Joseph Rowntree Charitable Trust
• Guild of Investment Managers

I have also been:

• ESG investment consultant, including engaging with a FTSE 100 financial company for a charity
• Board member, Methodist Lay Employees' Pension Trust
• Member, Methodist Church Joint Advisory Committee on the Ethics of Investment
• Nominations Committee member, Church of England Ethical Investment Advisory Group (EIAG) (2019-2026)
• Consultant to a digital healthcare technology company, which draws on my investment mindset and experience

 

Political Communications Officer, Christians on the Left

Christians on the Left  is affiliated to the Labour Party.  It brings together Labour members who share the Christian faith and it acts as a bridge between the Party and churches.  I'm responsible for media output, from the website, to news releases and coordinating media appearances, and work on general engagement.  I have been Vice Chair in the past and led Christians on the Left in renewing its statement of values.

Parliamentary candidate

I was the Labour Parliamentary candidate for Wantage in 2001.  I retained Labour's second place position, coming 5,600 (at 28.2%) votes behind the Conservative candidate.

 

Guy's and St Thomas' Hospital Trust

I have served as a Governor on the Guys and St Thomas Hospital Trust. This gave me a good insight into how a large hospital trust is run and the challenges it faces.

Archbishop Tenison's School

I have served as a Governor of local school Archbishop Tensions, next to to the Oval cricket ground. This gave me a good perspective on how education policy works its way through to local schools, and some of the challenges schools face.

Chair, Vauxhall Constituency Labour Party (2001 - 2012)

Vauxhall is a constituency with a diverse community and people of all sorts of economic backgrounds.  It forms part of the London Borough of Lambeth.  I have lived there for over 25 years.  As constituency chair, I worked with our MP and councillors, and coordinated constituency party activities. I served for some years as Vice Chair of the Lambeth Campaigns Forum, responsible for overseeing campaigns and literature. I represent Vassall Branch on Vauxhall CLP's General Committee.

Parish councillor

In my early twenties I served as a Parish Councillor, responsible for an area a bit like a London council ward. I sat on the Finance Committee - and was Chair of the Time Capsule Planning Committee! A parish councillor gets to deal with issues to do with the local environment, such as play areas, bus stops, road signs, youth clubs, parks and verges.

Some other things

I am a Cooperative Party member. I am a Fabian Society member.