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”.

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.

“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.