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Campanale goes as Henderson reshuffle continues apace

December 2006

Another key figure in Henderson Global Investors' socially responsible investment operations is to move on, following the firm's recent review of its approach to SRI.

Mark Campanale, head of SRI business development, will depart as a result of his position being done away with in much the same way as Rob Lake's head of corporate engagement post, jettisoned in October (EP8, issue 6, p1).

One source close to Henderson told EP that the fund manager's decision to stop making SRI research available to all its teams and to restrict it only to those with an SRI brief, was behind the cull. 'I can't quite understand the decision, as it is going against the general trend among other investment managers in Europe,' the source said. 'Henderson are keeping their SRI funds, but they have pulled back to the position where SRI is more of a niche again, rather than being increasingly applicable across all investments.'

Campanale has been a high profile figure in the SRI world over the past decade, having worked for Jupiter before joining Henderson. He was also a founding director of the UK Social Investment Forum.
One senior figure who works closely with Henderson said: 'it would be a great shock to the system if they were to draw back from this area. Along with F&C and Morley they are probably the most active in the field and have been real leaders.'
Brigid Benson, managing director of The Gaeia Partnership, a firm of independent financial advisers, said: 'I'd be very disappointed if Henderson were downscaling its engagement work as this is an incredibly important area that sends a strong signal to companies about their behaviour.'

Nick Robins, head of SRI funds at Henderson Global Investors, said: 'Henderson consists of a range of specialist teams all with a clear focus, such as technology or Asian equities. SRI is one of these teams and we are delivering good financial returns. We will continue to devote resources to this area and recently added to the SRI investment team with the appointment of Alice Evans as senior analyst.

'Our mainstream sales teams will be promoting and selling SRI funds alongside our other funds.'




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