The former Deputy Assistant Secretary of the U.S. Department of Labor, in charge of Employee Benefit Security Administration, has joined socially responsible investing shop Calvert, serving as director of institutional sales.
He was most recently senior vice president and head of the stable value operation at Prudential Retirement, handling Pru's in-plan and third-party stable value product management and development team.
Appointed to the DoL in 2009, Davis had resigned from his public post in November 212 to join Pru.
At Calvert, he will reportedly be responsible for growing Calvert’s client base among corporate pension plans, foundations and endowments, and other institutions to grow sales and assets within Calvert Investments.
Here is the press release;
Company Press Release
Michael L. Davis joins Calvert Investments as Head of Institutional Sales
Davis Hire Part of Overall Strategy to Bring ESG Investing to New Markets
BETHESDA, Md.--Calvert Investments, a globally recognized leader in sustainable and responsible investing, announced today that Michael L. Davis has joined Calvert Investments as Director of Institutional Sales. As leader of the institutional business, Mr. Davis will be responsible for growing Calvert’s client base among corporate pension plans, foundations and endowments, and other institutions to grow sales and assets within Calvert Investments.
“75 Most Powerful Blacks on Wall Street”
Mr. Davis has over 20 years of experience in the financial services industry. Before joining Calvert, he served as Senior Vice President and Head of the Stable Value business at Prudential Retirement where he headed Prudential’s in-plan and third-party stable value product management and development team. Prior to that, he served as Deputy Assistant Secretary of the U.S. Department of Labor’s Employee Benefit Security Administration during President Obama’s first term. There he assisted the Assistant Secretary in the management of the agency responsible for ERISA regulatory and enforcement activities nationwide. From 1992-2009, he held a variety of roles at JPMorgan Chase & Co (and its predecessors) starting as an investment banker in New York and then as part of their asset management division where he ultimately served as managing director and head of the west region institutional client group where he led institutional sales efforts across much of the U.S.
“We are excited to have Michael join Calvert Investments,” said Lynne Ford, executive vice president of Distribution. “Along with extensive experience and a track record of meeting client needs, Mr. Davis brings strong and deep industry relationships, passion, energy and innovation to the role.”
Mr. Davis added, “Institutional investors continue to seek differential forms of excess returns. Investments that maximize financial and mission-related “impact” returns through a focus on Environmental, Social and Governance (ESG) factors are becoming an increasing area of focus for these investors. Calvert’s longstanding expertise in this space is unparalleled. It is the obvious choice.”
Mr. Davis holds a bachelor's degree in finance from the University of Texas at Austin and a master's degree in public policy from the John F. Kennedy School of Government at Harvard University. He has served in an advisory capacity to academic institutions, venerable arts organizations, and healthcare systems. He believes strongly in giving back to the community and was formerly a Big Brother with Big Brothers Big Sisters. In 2006, Davis was named one of the "75 Most Powerful Blacks on Wall Street" by Black Enterprise magazine and has received several other industry and civic awards.
The executive search firm, Wilbanks Partners, LLC, based in Stamford, CT, aided Calvert in this search.
About Calvert Investments
Calvert Investments is the leading investment management company using sustainability as a platform to create value for investors. Serving financial advisors and their clients, retirement plans and insurance carriers, and institutional investors, the company offers a broad array of equity, bond, and asset allocation strategies, featuring integrated environmental, social, and governance (ESG) research and corporate engagement. Strategies are available through mutual funds, sub-advisory services, and separate account management. Founded in 1976 and headquartered in Bethesda, Maryland, Calvert Investments managed assets of more than $12.5 billion as of October 31, 2013. More information is available atwww.Calvert.com.