Last month, Citi announced that they would be dismantling their Socially Responsibility Investing (SRI) research team. Since then, two former members of the team, Mike Tyrell and Natalie Davis, have set out to establish their own independent research firm- Sustainable Investor.
The SRI team at Citi conducted sector-by-sector and company-by-company SRI analysis, providing written research, corporate access, stock ideas for the sales team, and bespoke work for investment clients. They were ranked the number one Leading Brokerage Firm for SRI Research in the 2008 Thomson Reuters Extel/ UKSIF Socially Responsible Investing & Sustainability Survey. Additionally Tyrell was the top ranked brokerage individual for long term investment research. In September of 2007 Tyrrell stated, “On some issues such as climate change, sustainability analysts are becoming well considered voices in the investment debate within buy-side institutions.” However, he also admitted that “you wouldn’t see a strong social and environmental interest coming through in 80 per cent of meetings as a company.”
Sustainable Investor plans to work with investors, companies, data and research provides as well as NGOs, governments, and consultancies. Citi has since integrated SRI research into their mainstream brokerage research.