People Moves: T. Rowe Price names new Head of ESG Enablement
Press Release - T. Rowe Price has named Poppy Allonby as its new investment and ESG leader, hiring BlackRock's former Head of Global Product for Asia-Pacific. Allonby will join the firm on June 6 and brings with her 20 years of asset management industry experience.
In her new role, Allonby will join the ESG leadership committee and help execute the firm's ESG strategy. She will drive the ESG strategies cross-functional consistency and coordination.
In alignment with T. Rowe Price's business strategies and ESG investment capabilities, Allonby will oversee the firm's corporate ESG positioning, global ESG product range and regulatory engagement.
Most recently, Allonby was BlackRock head of global product for EMEA and APAC. At BlackRock she developed and delivered sustainable product strategies for the company's active investment business. She was also responsible for product strategy, product development and structuring, overseeing more than 1000 funds with $US970 billion in assets under management.
Earlier in her career at BlackRock, Allonby was a portfolio manager for multi-billion-dollar global energy funds that invested across the traditional energy sector as well as for dedicated sustainable energy funds.
Allonby will be based in London and report to T. Rowe Price head of global equity and management committee member Eric Veiel. Veiel has oversight responsibilities for the T. Rowe Price's ESG investing, corporate and operational activities.
The other members of the ESG leadership committee are T. Rowe Price Associates head of corporate governance Donna Anderson, T. Rowe Price Associates director of research for responsible investing Maria Elena Drew and T. Rowe Price Investment Management head of ESG Chris Whitehouse.
"Our stakeholders, clients, employees, and shareholders are interested not only in how we invest, but also in how we behave as a firm," Veiel said.
Veiel spoke fondly of Allonby's broad sustainability and climate change expertise which he believed would be invaluable to T. Rowe Price ESG strategy and vision.
"We look forward to benefiting from the perspective and innovative approach she will bring to the ongoing buildout of our operational ESG capabilities," Veiel added.
Beyond her duties at T. Rowe Price, Allonby serves on the external board of the Massachusetts Institute of Technology (MIT) energy initiative and MIT's hub for energy research, education and outreach.