Lazard Asset Management has boosted its global sustainable equity investment team with Evie Paterson appointed as portfolio manager/analyst.
Based in London, Paterson will aid Lazard’s global sustainable investment offering and bring expertise in global responsible investing and ESG integration.
Furthermore, she will help managed the Lazard Global Sustainable Equity strategy. This is an actively managed portfolio that invests in companies whose products and services support the transition to a more sustainable world and drive high or increasing financial productivity.
“As active managers, we are committed to our role as stewards of our clients’ capital.” said Louis Florentin-Lee, managing director and portfolio manager on the global equities team at Lazard. “Evie’s sustainability expertise will greatly enhance our team and bring long term benefits to our clients.”
Truvvo, which has $3.8bn of assets under management (AUM), currently provides families with strategic advice, wealth planning, and investment management services.
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The acquisition increases LAM’s wealth management AUM across the globe, including assets handled by the company’s European wealth management division to around $22bn.
It also sees the creation of Lazard Family Office Partners, which will manage nearly $8bn assets in total, including LAM’s current private client business in the US.
One of Lazard’s senior executives in Italy, Massimo Pappone, is planning to leave the company to concentrate on his entrepreneurial and private equity endeavours.
According to BNN Bloomberg, Pappone, who most recently served as head of Lazard’s equity capital markets advice in Italy and financial institutions group, will depart the company before the end of the year.
The executive has recently been involved in some of the most significant M&A deals and IPOs in Italy. He will keep track of important financial institutions’ dealings for Lazard to maintain reliability.
His team will continue to monitor FIG activities.