Hermes Investment Management and Federated Investors have announced a unification of their brands to create Federated Investors.

The new brand is said to focus on a “commitment to responsible investing to achieve financial outperformance”.

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The move comes after Federated’s purchase of a 60% stake in Hermes in 2018  from BT Pension Scheme (BTPS).

BTPS retains a 29.5% stake in Hermes, while Hermes management owns the remaining interest.

Since the deal, Federated has introduced a responsible investing office, incorporated Hermes ESG factors into the liquidity fund investment decision process, as well as plans to adopt a similar approach for its equity and fixed-income strategies.

Federated Hermes president and CEO J. Christopher Donahue said: “More than a new name or ticker symbol, our company brings together the best of both Federated and Hermes.

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“We now have all the components together to take advantage of opportunities across the globe while enhancing two successful business cultures. And our new corporate identity is a tangible expression of our conviction that responsible investing is the best way to create wealth over the long term.”

Federated Hermes offers equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies as well as separately managed account strategies to corporations, government entities, insurance companies, foundations, endowments, banks, and broker/dealers.

The firm, based in Pittsburgh, has a staff headcount of around 1,900. It also has operations in London, New York, and Boston.

The business managed $575.9bn in assets at the end of December 2019.