MONEY MANAGEMENT

Neuberger Berman brings on head of ESG investing

Jonathan Bailey was named head of environmental, social and governance investing at Neuberger Berman, said a spokeswoman.

The position is new, and Mr. Bailey is based in New York. He reports to Joseph Amato, president and chief investment officer of equities.

Mr. Bailey works with the firm’s investment teams and research departments to further incorporate ESG principles into the equities, fixed-income and alternatives platforms. He also helps portfolio managers consider ESG as part of their analytical approach to evaluating companies and markets. Mr. Bailey will chair the firm’s ESG investment advisory committee.

The firm’s first application of “avoidance screens” was in the 1940s, said a news release. “(Mr. Bailey) will enhance our capabilities even further across our investing platforms, as demand for ESG strategies rise globally,” said Mr. Amato in the release.

Mr. Bailey was director of research at Focusing Capital on the Long Term, a think tank dedicated to developing tools and approaches to encourage long-term behavior in business and investment decision-making. A spokeswoman for the think tank said existing employees will take over the projects he was involved with.

Neuberger Berman has $267 billion in assets under management.