The Luxembourg Finance Labelling Agency (LuxFLAG) has appointed Sachin Vankalas as general manager starting 1 June, taking over from Mario Mantrisi.
The latter has been in the role for some 17 months, while Vankalas has been heading the operations and sustainability processes since 2011.
LuxFLAG currently operates five labels - Microfinance, Environment, ESG, Climate Finance and Green Bond - which are applied to some 117 labelled funds, with assets of about €50bn.
Vankalas said: "We want to build on these achievements, promote the opportunities that sustainability brings to the financial sector and showcase how impactful and game-changing social and environmentally-focused investments can be. As a torchbearer for transparency, high-quality processes and in-depth analyses through our labels will remain an utmost important driver for the organization to guarantee the necessary credibility towards investors."
Prior to joining LuxFLAG in March 2011, Vankalas worked as an investment officer at a Swiss asset manager in Zurich, and before that as a rating analyst at a rating agency. His tertiary education includes executive programmes in finance and sustainability. He is a member of the Alfi and ABBL technical committees and working groups on Responsible Investing and sits on the boards of organisations active in sustainable finance, such as International Climate Finance Accelerator (ICFA), Inclusive Finance Network (InFiNe), and European Microfinance Platform (e-MFP).