BMO Global Asset Management (BMO GAM) announced today that it has been appointed to be the engagement partner for wealth manager Brewin Dolphin’s direct holdings, representing approximately a quarter of Brewin Dolphin’s £46.7 billion in AUM.

Brewin Dolphin is one of the UK’s largest wealth managers, with 33 offices across the UK and Ireland. Under the new mandate, which sits within BMO GAM’s reo service (Responsible Engagement Overlay), BMO GAM will engage with investee companies on behalf of Brewin Dolphin on ESG issues, sustainability risks and opportunities related to investments.

Rob Thorpe, Head of Distribution – Intermediary, UK and Europe at BMO Global Asset Management, said:

“Our reo service 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. 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’re 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.”

Guy Foster, Head of Research at Brewin Dolphin, 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 amongst 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.”

Tom Blathwayt, Head of Sustainability, Brewin Dolphin said:

“We are continuously looking to improve our responsible investment capabilities and ensure our clients’ interests as shareholders are represented. As active owners, we are delighted to work with BMO GAM to ensure priority companies are engaged on the most important issues.”

According to BMO GAM, the firm’s reo service has a 20-year track record and assets under engagement of £170 billion. It represents a global client base of investors including pension funds, insurers, asset managers, fiduciary managers, charities and family offices.