With interest in socially responsible investing on a tear, UBS Wealth Management Americas has named an executive to lead its efforts in this area: Stephen Freedman will now be head of the firm’s Sustainable Investing Solutions effort, charged with expanding the wirehouse’s products and services in this area.
“He will also promote the understanding of Sustainable Investing concepts and solutions among financial advisors in order to develop new business and help clients pursue their sustainable and impact investment goals,” UBS Wealth Management Americas said in a statement.
Worldwide, UBS’ clients have about 35% of their investable assets in sustainable holdings — $972 billion, up from about $932 billion in 2015.
The Global Sustainable Investment Alliance said Friday that assets tied to sustainable and responsible investment strategies totaled $23 trillion in 2016, a 25% increase from 2014. The group says such investments now account for 26% of all professionally managed assets globally.