Grier’s Appointment Signals Leadership Role For Prudential Among Institutional Investors In Impact Investing
Press Release – February 15, 2017. The Global Impact Investing Network (GIIN) today announced the appointment of Mark Grier as its new Board Chair. Grier serves as Vice Chairman at Prudential Financial Inc. Grier’s appointment marks a milestone in the advancement of the GIIN, which will benefit from Prudential’s more than 40 years of institutional impact investing experience.
“We are honored to welcome Mark as the new Board Chair of the GIIN,” said Amit Bouri, CEO and co-founder of the GIIN. “Mark’s extensive knowledge and expertise in financial services, coupled with his passion for impact investing, make him a great asset to the GIIN and to its members. We are confident that Mark’s leadership will help to propel the GIIN and the impact investing movement forward.”
As Vice Chairman at Prudential, Grier is a member of the Office of the Chairman and its Board of Directors and oversees the Chief Investment, Finance, Risk Management, Corporate Actuarial and Investor Relations functions, along with several other key functions. He also leads the Global Strategic Initiatives group that oversees Prudential’s international retirement and China strategies. Grier joined Prudential as Chief Financial Officer in 1995 and was named its Vice Chairman in 2002. Previously, he was co-head of Chase Global Markets and an Executive Vice President of The Chase Manhattan Bank, N.A.
“I am thrilled to join the GIIN to help further mobilize the investment community to address the major challenges of our time,” Grier said. “Since our founding, Prudential has been guided by a commitment to creating shared success for all members of society, including those traditionally underserved by the capital markets. The GIIN’s work is well-aligned with that purpose of delivering social impact alongside economic value.”
Prudential was an original member of the GIIN’s Investors’ Council, a leadership group for large-scale impact investors. Prudential’s public commitment to building a $1 billion portfolio of impact investments by 2020 paved a natural path for Grier’s appointment. Prudential was founded in Newark, NJ in 1875 as a social purpose business providing burial insurance to working families. The company remains headquartered in Newark and its founding mission is an essential part of the company’s purpose.
Effective immediately, Grier assumes the role of Chair from GIIN’s founding Board Chair, Antony Bugg-Levine, who will remain on the GIIN’s Board of Directors. Bugg-Levine played a pivotal role in launching the GIIN in 2009, and has served as Board Chair for the past seven years.
“The impact investing market has reached a point of inflection,” said Antony Bugg-Levine. “The growing involvement of ‘mainstream’ investors has brought large sums of capital to the industry and new commitments are being made at an increasing tempo. Mark’s experience will be incredibly valuable as the industry accelerates and welcomes more investors, helping to onboard them to ensure the integrity of the industry is preserved and the community remains committed to the impact ethos.”