Allianz Global Investors (AllianzGI) has hired a chief investment officer to lead a newly created global sustainability and social responsible investment (SRI) equity team.

Giles Money joins as CIO and will lead the team from August 2023 and joins the firm from J Safra Sarasin Asset Management & Sarasin and Partners, where he managed two flagship global equity and global thematic funds.

The SRI team will collaborate closely with AllianzGI’s thematic equity team led by Andreas Fruschki, which has established a suite of SDG-related investments.

Earlier this month, AllianzGI said it would support shareholder pressure on Glencore to disclose how the company's thermal coal production aligns with Paris Agreement objectives.

Money’s hire is the latest in an ongoing drive within the asset management industry by firms to boost their internal sustainability resources. For example, Denmark's Formuepleje established an equity investment team to focus on ESG issues last month and Axa Investment Managers appointed a head of ESG sustainability for its private markets division.

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