Brewin Dolphin forms £12bn ESG alliance with BMO

Pedro Gonçalves
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Brewin Dolphin forms £12bn ESG alliance with BMO

Brewin Dolphin has selected BMO Global Asset Management to boost its engagement efforts for £11.6bn of the wealth manager's assets under management (AUM).

BMO GAM will partner with the firm via its Responsible Engagement Overlay (REO) corporate engagement and proxy voting service.

 The £11.6bn mandate is a portion of the £46.7bn Brewin Dolphin currently invests in direct equities.

BMO Gam has the expertise and scale to help us drive companies to address the most important issues they face"

Brewin Dolphin head of research Guy Foster said: "As long-term investors it is important to us, and our clients, that investee companies balance the interests of their stakeholders. That is what our stewardship approach aims for and we view collaborative engagement as among the most powerful tools we have in achieving it.

"BMO GAM has the expertise and scale to help us drive companies to address the most important issues they face, and we look forward to working with them in the future."

According to group, the service has £170bn in AUM representing pension funds, insurers, asset managers and family offices. In 2019, it said that engaged with 765 companies across 44 countries, voting in 11,131 company meetings.

Head of intermediary distribution for the UK and Europe at BMO GAM Rob Thorpe said REO will "provide Brewin Dolphin with considered engagement and voting services across its direct equity holdings, supporting the business in its stewardship and responsible investment activities".

He added: "We have a long-standing relationship with Brewin Dolphin, with many of our funds, including those in our responsible range, forming part of its discretionary fund manager models and advisory panels.

"We are always looking for ways to further add value to clients and are delighted that our relationship has been extended to include this mandate as their engagement partner."

 

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