LGIM director joins FCA in newly created sustainability role
A well known corporate governance figure will join the City regulator as it looks closer at the role of sustainable finance.
Sacha Sadan will join the Financial Conduct Authority as director of Environment, Social and Governance to advocate for sustainable finance.
He joins from Legal and General Investment Management where he was director of investment stewardship and is one of the City’s best known corporate governance figures.
The FCA said Sadan will lead the development of policy to ensure the sustainability of firms, functioning of markets and the protection of consumers.
The new role signals the regulator is taking seriously the recent addition to its remit in integrating the net zero goal into its work. Last month it was asked to “have regard to the government’s commitment to achieve a net-zero economy by 2050,” in its letter of recommendations from teh Chancellor.
“The FCA is rightly seen as an international leader on the role financial regulation should play in delivering a more sustainable and greener future,” FCA boss Nikhil Rathi said. “I am delighted to have someone of Sacha’s experience and insight joining us to help us accelerate this important work.”
The regulator has also bolstered its technology team making Ian Alderton its permanent chief information officer. He joined the FCA on a temporary basis at the start of the year and is “driving an ambitious technological change programme”.
Ian Phoenix will join as the director of intelligence and digital from NHS Digital to work on the FCA’s intelligence and surveillance capabilities.
