David Atkin has announced his resignation as the chief executive officer of the Principles for Responsible Investment (PRI).
In a statement published by the UN-backed body today (Monday), the PRI said it had kicked off the search for a new leader, with Atkin expected to step down next year.
He has held the position since the end of 2021, when he replaced outgoing CEO Fiona Reynolds, who moved back to Australia from London.
Atkin moved to London from Australia to take up the job, leaving his role as deputy CEO at $190bn asset manager AMP Capital.
Before that, he spent more than a decade in charge of superannuation fund Cbus.
During his time at the helm, the PRI has undergone a major shake-up, introducing a new strategy with lighter reporting requirements for its signatories.
It has also made a raft of redundancies in recent months – including among the senior leadership – after reviewing its financial outlook amid the current backlash against sustainable finance.
“David’s leadership has been transformative for the PRI, guiding us through significant changes in the signatory base, and now in the sustainable investment environment,” said the chair of PRI’s board, Conor Kehoe.
“As we approach our 20th anniversary in 2026, the search for a new CEO is a crucial step in ensuring that the PRI remains at the forefront of the global responsible investment movement.”
When Atkin’s appointment was announced back in 2021, some PRI signatories and observers were frustrated by the selection of a third Australian for the role.
There was pressure for the organisation to select someone with a background in European asset ownership, given the dominant role European pension funds and insurers have played in responsible investment.
Others wanted the PRI to choose someone with a background in emerging markets.
This time around, some insiders predict there will be pressure to find a CEO from a US asset owner, in order to reduce the risk that US investors break away from the body under political pressure to abandon their public commitments to sustainability.
The committee responsible for finding a new CEO will be chaired by Sharon Hendricks, vice chair of the investment committee at the California State Teachers Retirement System.
Last month, Atkin told delegates at an industry conference in Paris that asset managers were “crying out” for more leadership from asset owners amid sustainable investment pullbacks, especially in the US.
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