Margaret Chinwe Anadu was named global head of sustainability and impact at Goldman Sachs Asset Management.
The role is new and follows the integration of Goldman Sachs' public and private money management businesses, a spokeswoman said. Ms. Anadu is based in New York.
Ms. Anadu will develop and oversee the strategy for delivering commercial solutions and advisory services to clients in relation to inclusive growth and climate transition, a memo seen by Pensions & Investments said. Responsibilities include developing products and partnerships, as well as showcasing the brand.
She will report to Eric S. Lane and Julian C. Salisbury, global co-heads of the Goldman Sachs' asset management division. The memo was signed by Messrs. Lane and Salisbury.
GSAM had $2.15 trillion in assets under supervision as of Dec. 31. The firm manages $145 billion in environmental, social and governance investments, the memo said.
Ms. Anadu will work closely with Dina Powell McCormick, global head of sustainability and inclusive growth at parent company Goldman Sachs, and John Goldstein, head of the sustainable finance group at the bank. She will also co-chair the newly formed Asset Management Sustainability Council, alongside Hugh Lawson, head of institutional client strategy and ESG and impact strategy at GSAM.
Ms. Anadu will become chairwoman of the Urban Investment Group, a domestic, multiasset investing and lending business that deploys more than $1 billion a year in community and economic development through real estate projects, social enterprise and lending facilities for small businesses. She had led the group since 2015. Details on a replacement were not immediately available. She will also continue to chair the group's investment committee. Sherry Wang and Daniel Alger, managing directors in the Urban Investment Group, will become co-heads
