Share

Church of England hires first-ever investment director

Church of England hires first-ever investment director
News

Church of England hires first-ever investment director

Finance | Vibeka Mair | 4 Aug 2009

The Church Commissioners for England has appointed Tom Joy as its first director of investment to manage all of the Church of England’s property and other assets worth a total of £4.4bn.

Joy (pictured), who will report to the first church estates commissioner, Andreas Whittam Smith, and the secretary to the commissioners, Andrew Brown, has been hired to advise the assets committee on the strategic development of the Church’s multi-asset investment portfolio in light of the increasing complexity of the financial markets.

He joins from RMB Asset, where he was chief investment officer for six years, and will take up his post in October.

COE faces further criticism on investments

Meanwhile, the Church of England has come under further fire for its £2.5m investment in mining company Vedanta, which is planning a project on an Indian mountain considered sacred by the local people.

Last week, a coalition of international development charities attacked the Church of England for its investment and urged it to pressurise Vedanta to stop its plans.

It faces more criticism this week with the Guardian newspaper reporting that Vedanta will supply bauxite it mines to a subsidiary involved in the production of metal for weapons.

Meredith Alexander, head of trade and corporates at ActionAid, said: “This is just another reason why investors should take a hard look at their holdings in Vedanta. The Church of England, for example, state they will not invest in defence companies. Vedanta’s involvement in missile production surely makes their investment even more controversial.”

A CofE spokesperson said that the CofE's current ethical policy on investments does exclude companies that made armaments, but this did not render Vedanta uninvestable.

“Vedanta does not make armaments. There is a distinction on where it is in the supply chain. But our shareholding is still under consideration and we are meeting senior management of Vedanta to discuss our concerns.”

The Church of England has asked The Guardian for evidence it has gathered on Vedanta.

Comments

[Cancel] | Reply to:

Close »

Community Standards

The civilsociety.co.uk community and comments board is intended as a platform for informed and civilised debate.

We hope to encourage a broad range of views, however, there are standards that we expect commentators to uphold. We reserve the right to delete or amend any comments that do not adhere to these standards.

We welcome:

  • Robust but respectful debate
  • Strongly held opinions
  • Intelligent relevant discussion
  • The sharing of relevant experiences
  • New participants

We will not publish:

  • Rude, threatening, offensive, obscene or abusive language, or links to such material
  • Links to commercial organisations or spam postings. The comments board is not an advertising platform
  • The posting of contact details for yourself or others
  • Comments intended for malicious purpose or mindless abuse
  • Comments purporting to be from another person or organisation under false pretences
  • Gratuitous criticism, commentary or self-promotion
  • Any material which breaches copyright or privacy laws, or could be considered libellous
  • The use of the comments board for the pursuit or extension of personal disputes

Be aware:

  • Views expressed on the comments board are left at users’ discretion and are in no way views held or supported by Civil Society Media
  • Comments left by others may not be accurate, do not rely on them as fact
  • You may be misunderstood - sarcasm and humour can easily be taken out of context, try to be clear

Please:

  • Enjoy the opportunity to express your opinion and respect the right of others to express theirs
  • Confine your remarks to issues rather than personalities

Together we can keep our community a polite, respectful and intelligent platform for discussion.

Tags

Free eNews

Get involved or risk bad charity policies, fundraisers told

30 Jan 2015

Fundraisers need to be more involved in policy-making or risk the government “losing the plot” when...

Unicef launches record £2bn appeal to combat 'new generation' of crises

30 Jan 2015

Unicef has launched its biggest ever appeal to raise funds for "growing numbers" of children experiencing...

CFG policy head questions 'worrying' comments by Bubb over 'too many charities'

30 Jan 2015

The new policy head at the Charity Finance Group, Andrew O’Brien, yesterday labelled as "worrying" comments...

Shawcross reappointed as chair of the Charity Commission

29 Jan 2015

Francis Maude, minister for the Cabinet Office, has reappointed William Shawcross as chair of Charity...

Commission shows ‘real improvement’ but many concerns remain, says Public Accounts Committee

29 Jan 2015

The Charity Commission has been praised by Margaret Hodge, chair of the Public Accounts Committee, for...

Commission to investigate charitable school over private benefit from leisure centre and dating agency

29 Jan 2015

The Charity Commission is set to open a statutory inquiry into Durand Education Trust, a charity connected...

NGO domain pages will launch in May

28 Jan 2015

The Public Interest Registry will make the .ngo generic top-level domain name generally available from...

Comparison website for special needs services launched by charity consortium

23 Jan 2015

A coalition of social care charities has launched a TripAdvisor-style website, designed to help families...

CRUK debuts contactless giving through shop windows

21 Jan 2015

Cancer Research UK has announced a collaboration with outdoor media owner Clear Channel to bring contactless...

Join the discussion

 Twitter button

@CSFinance