ShareAction CEO becomes People’s Trust committee chair

ShareAction chief execution Catherine Howarth

ShareAction chief executive Catherine Howarth has been announced as the chair of the People’s Trust shareholders’ committee.

The appointment was announced as the first six members of the shareholders’ committee were revealed, with Coram Asset Management fund manager James Sullivan also at the table.

Howarth says ensure committee is charged with ensuring the investment trust delivers on its “promise and potential”.

The committee will raise shareholder concerns with the board, contribute to the annual report, and be consulted on board nominations and executive remuneration.

“The People’s Trust has an innovative model that sits outside the conventional short-term drivers in the investment industry,” Howarth says.

Other members of the board include UK Shareholders Association policy director Peter Parry, pension governance specialist Julius Pursaill, executive coach and former UHNW private banker Lydia Kan, OMFIF deputy managing director Pooma Kimis and journalist Iona Bain.

Howarth joined ShareAction, a charity that encourages responsible investment, in July 2008, having previously been the founder and lead organiser of West London Citizens.

The People’s Trust has selected five equity investment management teams, including Artemis Investment Management and First State Investments, who are all hired on a seven-year contract.

Artemis’ Mark Niznik and William Tamworth will focus on UK smaller companies for the trust, French Comgest will focus on Europe, First State Investments on Asia Pacific and Japan, J O Hambro Capital Management on global holdings with Ben Leyland and Robert Lancastle as fund managers.

Lansdowne Partners’ Per Lekander will invest in clean energy.

Additionally, Big Issue Invest will manage a portfolio of social impact investments starting from 1 per cent and potentially rising to up to 5 per cent of the assets, the firm says.

The investment trust launched its offer period earlier this month and aims to raise £125m.