Fund manager and co-investor Impact Investment Group has appointed Daniel Madhavan as its new chief executive.
Daniel Madhavan joins Impact Investment Group (IIG) from his role as chairman of YGAP, a not-for-profit that backs local entrepreneurs tackling poverty.
Before that, he was the founder and chief executive of independent organisation Impact Investing Australia and held numerous roles at JBWere and Goldman Sachs JBWere from 2002 to 2014, including acting chief executive and chief operating officer.
Commenting on the appointment, IIG chair Danny Almagor said Mr Madhavan brought an “impressive record” in both the financial services industry as well as the impact investing sector.
“Daniel has the unique combination of deep experience in the existing financial system plus a clear vision for what is coming next: a humane economy driven by social responsibility and environmental sustainability,” Mr Almagor said.
Commenting on his own appointment, Mr Madhavan said the impact investment sector was “growing rapidly” and “rising to meet the social and environmental challenges that will continue to confront us over time”.
“I have spent time at the helm of one of the oldest investment houses in Australia, and through this experience grew to understand the true power and importance of finance in our society,” he said.
“I look forward to joining a team that is harnessing this power to build a more equitable, sustainable and prosperous economy together.”