(Bloomberg) -- JPMorgan Chase & Co.’s private bank hired Jessica Matthews as head of sustainable investing for its wealth management group, citing growing interest from clients in socially-conscious investing.
Matthews was previously managing director at Cambridge Associates, advising investors on socially-responsible and mission-related investing for over a decade. She will be based in New York and report to Monica Issar, global head of multi asset and portfolio solutions.
Wall Street and investment firms including BlackRock Inc. and T. Rowe Price Group Inc. are bulking up in sustainable investing as it has become a key strategy for attracting assets from wealthy individuals, foundations, endowments, pensions and family offices. Socially-responsible investments, which reached $23 trillion by the start of 2016, have broadly outpaced growth in invested assets under management, according to the Global Sustainable Investment Alliance.
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