‘Eyebrows will be raised’ over Harry and Meghan banking venture
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Ethic, a fintech asset manager which makes "sustainable investing", announced yesterday that the royal couple had joined their ranks as "impact partners". Confirming the move on their Archewell website, the Duke and Duchess remarked: "We want to rethink the nature of investing to help solve the global issues we all face."
The royal couple will be joining a team of 'hippies', according to one of the company's founders, and will even be working alongside a selection of canine colleagues.
A dog called Byron is listed on their website as 'Chief Smile Officer', while Roux and Gigi are apparently responsible for ‘security’.
In a statement, the company's founders Johny Mair, Doug Scott and Jay Lipman claimed the Duke and Duchess of Sussex "share a lot of values with us".
"That's why we're so excited that they're joining us as impact partners," they said.
Fintech asset manager Ethic has enlisted Harry and Meghan as ‘impact partners’ (Image: Getty)
A dog, Byron, is listed as the company’s ‘Chief Smile Officer’ (Image: Ethic)
The three founders described Harry and Meghan as being "deeply committed to helping address the defining issues of our time—such as climate, gender equity, health, racial justice, human rights, and strengthening democracy".
Ethic only invests in companies that meet their "social responsibility criteria" in these areas.
The royal couple "understand that these issues are inherently interconnected," they said.
"So much so, in fact, that they became investors in Ethic earlier this year and have investments managed by Ethic as well.
Ethic founders Mair, Scott and Lipman claimed the Duke and Duchess ‘share a lot of values with us’ (Image: Ethic)
"Now they want to shine a light on how we can all impact the causes that affect our communities, bring transparency into how the corporate world sets the tone and shapes outcomes for everyday families, and believe that more people should have a seat at the table when it comes to making progress."It is as-yet unclear if they are being paid for their roles at Ethic.
Mr Lipman originates from Britain, and previously worked as an alternatives specialist at Deutsche Bank.
He has said that he "loves hippies" to invest with them, because the team consider themselves to be hippies too.
DON’T MISS The FOUR areas Brussels is expected to buckle in Brexit negotiation [INSIGHT] Thousands could miss out on state pension due to Brexit [ANALYSIS] Patel ‘Met is rotten from top to bottom’ after Cressida Dick clash [REPORT]
The company also lists two other dogs – Gigi and Roux – as ‘security’ (Image: Ethic)
It follows deals with streaming services Netflix and Spotify worth £100 million (Image: Getty)
The animals regularly attend team meetings, which begin with encouraging staff to "throw out a thank-you to someone who helped them that week".
Mr Mair was an analyst at Deutsche Bank and worked at JP Morgan, before taking a series of jobs at start-ups.
Meanwhile, Mr Scott, who hails from Australia, also worked in investment banking at Deutsche Bank and was listed on the Forbes 30 under 30.
The new partnership is the latest move by the couple as they continue their private life in the US after quitting royal duties.
‘From the world I come from, you don’t talk about investing. You don’t have the luxury to invest’ (Image: Getty)
It follows deals with streaming services Netflix and Spotify worth £100 million.
In an interview with the New York Times, Meghan said: "From the world I come from, you don’t talk about investing, right? You don’t have the luxury to invest. That sounds so fancy.
She added: "My husband has been saying for years: ‘Gosh, don’t you wish there was a place where if your values were aligned like this, you could put your money to that same sort of thing?’"
The Duke is also "chief impact officer" at the California-based mental health start-up BetterUp, which has raised £220 million from investors, who value it at around £3.4 billion.
In March, Harry claimed in an interview with Oprah Winfrey that he was made to sign the sizeable deals with Spotify and Netflix as the Royal Family "literally cut me off financially".
Following the interview, a Clarence House spokesperson said that Prince Charles "allocated a substantial sum to support them" with their transition to be "financially independent".
"That funding ceased in the summer of last year," they said. "The couple are now financially independent."
- Royal Family: 'Smear campaign' Reason Meghan bullying probe not public pinpointed
- Inside Operation Grouper: the DEA’s War on Marijuana Smuggling
- The Hot New Strategy for Unseating Trump Republicans: Don’t Make It About Trump
- Liz Truss threat to cut NHS managers 'a fatal error' - ‘They are part of the solution’
- Former VP Al Gore on environmentalism, Trump, and the climate crisis - full, extended transcript
- Kate and William ready to move on from Kensington Palace's 'glorious prison' - expert
- 'Crucial' tips to save energy and lower bills - including 'simple' and free hacks
- Prince George and Princess Charlotte use a different name at school and so could Louis
- Opinion: What started in Kansas upends American politics
- Crypto finds a bright spot in a stormy summer: Congress
- Opinion: Charisma-free al-Zawahiri was running al-Qaeda into the ground
- Learjets, Mistresses, and Bales of Weed: My Dad’s Life as a Drug Kingpin
Inside Harry and Meghan's new investment firm – as DOG given key role have 1106 words, post on www.express.co.uk at October 13, 2021. This is cached page on VietNam Breaking News. If you want remove this page, please contact us.