Advice firm unveils new head of sustainability

LGT Crestone has announced the appointment of Amanda MacDonald to head of sustainability.

Ms MacDonald, who officially commenced the role with the high-net-worth advice firm – which is now wholly owned by privately owned wealth manager LGT -  on 11 July, will manage its environmental impact through ESG-related initiatives and play a “crucial role” in ensuring that its sustainability commitments are maintained.

“We are confident Amanda’s background and expertise will help advance the firm’s sustainability goals,” LGT Crestone wealth management deputy CIO, Kevin Wan Lum, said.

“Sustainable investing is a top priority for us, and we look forward to having Amanda lead our efforts to drive long-term environmental change in both our operations and networks.”

Ms MacDonald joins the company with over 14 years’ experience in the investment industry and most recently worked as an investment director at Perpetual Private in Sydney.

Prior to that, she led the investment and ESG research function for MLC Advice as a senior investment analyst and also worked at Pendal Group.

Ms MacDonald said she is looking forward to leading the sustainability functions for LGT Crestone.

“I am delighted to be joining LGT Crestone, especially during such an exciting time in its sustainability journey,” she said.

“I’ve always had a passion for investing for a renewable future. I look forward to partnering with all areas of the firm to drive these initiatives forward.”

Late last year, Crestone received a takeover offer from LGT with the wealth manager agreeing to acquire 100 per cent of the shares on issues in Crestone for $475 million.

The scheme consideration comprised of two payments – an upfront payment of $250 million and a further payment in five years that may reach $225 million, with an escalation provision should Crestone exceed future year forecasts.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.