* Sacha Sadan to be FCA's first director of ESG
* New role will help develop sustainable finance policy
* Appointment follows decade at Britain's biggest money
manager
By Simon Jessop
LONDON, April 19 (Reuters) - Britain's financial markets
regulator has hired one of the UK's most important corporate
governance figures, Legal & General Investment Management's
Sacha Sadan, to lead the development of its sustainable finance
policy, it said on Monday.
The Financial Conduct Authority said Sadan, who had served
as head of investment stewardship with Britain's biggest asset
manager for around a decade, will take up the newly created role
of director of environment, social and governance this summer.
The appointment follows a recent government decision to add
a consideration of the UK target of reaching net zero carbon
emissions - part of the global shift to a low-carbon economy -
to the FCA's remit.
The regulator has also introduced rules requiring companies
listed in London to improve disclosures around climate-related
risks.
"The FCA is rightly seen as an international leader on the
role financial regulation should play in delivering a more
sustainable and greener future," FCA Chief Executive Nikhil
Rathi said.
LGIM CEO Michelle Scrimgeour said in a statement that a
search was underway for Sadan's replacement.
In the meantime head of responsible investment integration
Michael Marks will lead the stewardship team of 17 at the asset
manager, part of insurer Legal & General.
(Reporting by Simon Jessop; Editing by Jan Harvey)
Legal & General (LGEN)
