Sunday, October 17, 2021

Now Harry and Meghan move into banking

Harry and Meghan vow to ‘change the world’ by moving into ethical banking: Couple become ‘impact partners’ of $1.3billion ‘hippy’ investment firm Ethic after ‘being introduced by friends’


Prince Harry and Meghan Markle today announced they are moving into banking and vowed to ‘change the world’ by putting money into an investment firm called Ethic, whose owners are self-styled ‘hippies’ managing a $1.3billion Wall Street fund.

The Sussexes, who experts believe are well on the way to building a $1billion brand in the US, have been appointed ‘impact partners’ at Ethic, a New York-based fintech asset manager pumping money into companies with what they deem acceptable environmental and social goals.  

Harry and Meghan’s latest move into big business came after their deals with Netflix and Spotify and the couple announced their latest tie-up with a statement that said: ‘When we invest in each other we change the world’.

Ethic claims to only invest in businesses that meet its ‘social responsibility criteria’, including on racial justice, climate issues and workplace standards including equal and fair pay. 

In a joint interview with the New York Times, Meghan, a multi-millionaire former actress, 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?’,’ adding the couple were introduced to Ethic by friends. It is not yet known how much they have invested or if they are being paid.

Meghan and Harry in New York last month as it was today announced they are becoming "impact partners" and investors at sustainable investing firm Ethic

Meghan and Harry in New York last month as it was today announced they are becoming ‘impact partners’ and investors at sustainable investing firm Ethic

The Duke and Duchess of Sussex have become ‘impact partners’ and investors at sustainable investing firm Ethic.  

Jay Lipman, the British co-founder of Ethic, recently said in a video on their website that they ‘like hippies’ as a company and considered themselves too despite managing a $1billion fund.

Harry and Meghan’s Archewell website confirmed their latest business partnership, linking to a New York Times story which featured the headline ‘Harry and Meghan Get into Finance’.

The Archewell website said: ‘When we invest in each other we change the world…’

It added: ‘We believe it’s time for more people to have a seat at the table when decisions are made that impact everyone.

‘We want to rethink the nature of investing to help solve the global issues we all face.’ 

Ethic’s website said it aims to empower wealth advisors and investors to create portfolios that align personal values with financial goals.

This article shown on dailymail.co.uk Source link Author on date 2021-10-12 13:57:38

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