FOR IMMEDIATE RELEASE
New Advisory Firm “Third Economy” Aims to Help All Investors Profit and Create Positive Impact Through ESG and Active Ownership
Former BlackRock Executive Chad Spitler Launches Consultancy Focused on Portfolio Sustainability Analysis, Engagement and Proxy Voting, ESG Integration and Product Development
SAN FRANCISCO, California (July 12, 2018) – Former BlackRock Managing Director and current CamberView Partners Senior Advisor Chad Spitler is pleased to announce the launch of Third Economy LLC, a dedicated environmental, social and governance (ESG) and sustainable investing advisory firm that aims to further mainstream investors ability to profit and create positive impact. Third Economy intends to bring to all investors the depth of insight previously only available to the world’s largest investors.
“Despite the growing number of institutional assets dedicated to ESG and sustainable strategies, there is still a significant lack of awareness among investors as to how they can access and use these tools to earn market rates of return and have a positive impact,” said Chief Executive Officer and Founder Chad Spitler. “Third Economy’s services are designed to educate and empower investors of all types and sizes with the tools of ESG and active ownership to enable them to make money and do good without sacrificing financial return.”
Third Economy’s services include:
- Portfolio sustainability analysis to increase positive impact while maintaining market rates of return
- Development of engagement and proxy voting tools as an alternative to divestment
- Building ESG integration capabilities including data and vendor management
- Product, policy and business development
After 15 years at BlackRock, Mr. Spitler joined CamberView Partners (www.camberview.com), the leading provider of investor-led advice to companies seeking to build successful relationships with their investors. He has served in several roles at the firm, including Chief Operating Officer and Head of Sustainable Business Practices and now in his current position as Senior Advisor.
“The market will be well served by the knowledge and insight that Chad will bring to clients of Third Economy,” said Abe Friedman, Founder and CEO of CamberView Partners. “We are proud supporters of the work of Third Economy and are pleased that Chad will continue to deliver for our clients as a Senior Advisor to CamberView.”
Broadridge (www.broadridge.com), the leading provider of investor communications, data and analytics to the financial services industry, is an anchor client of Third Economy and works with the team on market research and positioning.
“After a 12-year relationship with Chad as a former member of our independent industry oversight committee, we are excited to now work with Third Economy to assess investors evolving needs for proxy voting services,” says Broadridge Investor Communications Solutions President Bob Schifellite.
Third Economy will help organizations develop and expand their active ownership and responsible investment capabilities and ultimately raise the overall profile of the industry. According to a 2017 Wells Fargo / Gallup poll, “74% of investors know little or nothing about social impact funds.”
“We’ve been working hard to understand how we can both educate investors and advance their ability to profit and create impact through our services. Thanks to the early support from CamberView and Broadridge, we have a strong foundation to continue building Third Economy,” Spitler said.
For more information about Third Economy please visit www.thirdeconomy.com
About Third Economy
Third Economy’s name represents an emerging economic age based on principles of sustainability following the pre and post-industrial eras and symbolizes the Earth as the third planet from the sun. Chad Spitler, Third Economy’s CEO and Founder, has over 20 years of institutional investing and sustainability consulting experience. At BlackRock, the world’s largest asset manager, he helped to establish what are now BlackRock’s Investment Stewardship and Sustainable Investing teams. In his role as a Managing Director, Mr. Spitler and his colleagues were responsible for analyzing how ESG factors impact financial performance and integrating that analysis into investment decisions, proxy voting, engagement and product development. Their work facilitated billions of dollars of capital into sustainable investment products and hundreds of public companies to integrate long-term thinking into their business strategies as a result of his team’s engagement and voting activities.
Media contact: Chad Spitler
Phone: (415) 723-1739